Wolters Kluwer Financial Services in Minneapolis said it has purchased the regulatory compliance content of PRINGLE Publications Corp. of Oklahoma City and will integrate it with its own ARC Logics for Financial Services offering.
The PRINGLE compliance and safety and soundness policies, procedures, worksheets, forms, regulatory checklists and tests will be part of the ARC solution's policies and procedures module and delivered through Wolters Kluwer's enterprise risk management software, the company said.
"The clear and accurate articulation of required and desired behaviors coupled with the collection of positive attestations of all personnel that they have read, understood and plan to follow the policies and procedures are absolute requirements to holding operational units responsible and accountable for regulatory compliance," said Raffi Festekjian, president of Wolters Kluwer Financial Services' Risk & Compliance business.
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Laura Pringle, principal and co-founder of PRINGLE Publications Corp. said, "This acquisition and integration will provide PRINGLE customers with the benefit of working directly with Wolters Kluwer Financial Services and access to a broader, deeper set of policies and procedures and regulatory content."
More than 500 financial institutions nationally currently use the PRINGLE solution, the company said. More than 15,000 banking, insurance and securities customers use Wolters Kluwer Financial Services compliance and risk management solutions globally, that company said.
Terms of the acquisition were not announced.
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