Ed Mullen, Partner and Founder of Beacon Equity Partners, said:
SteelEye has a unique value proposition, combining communications oversight, trade surveillance and regulatory reporting on a single platform. There is great potential in the U.S. for a service that simplifies compliance for financial firms, and we are delighted to support SteelEye as they enter this market.
Smith continued:
There is a clear demand for technology that improves compliance accuracy while simplifying processes in the North American market – SteelEye is the perfect solution to support firms. We are delighted to be working with Ed and the team at Beacon Equity Partners, whose expertise in scaling global businesses will be instrumental as we expand into North America.
The Dodd-Frank Act, introduced in 2010 by the Obama admiration, has added regulatory requirements for financial firms. Even ten years after the introduction of these provisions, adhering to them can still be challenging for many firms.
There has been a growing demand in the US for cloud-based compliance and regulatory oversight technology which has motivated SteelEye’s move. Another driver for entering the US market has also been the Covid-19 crisis which overwhelmed compliance teams. The pandemic has created an urgent need to explore new monitoring measures for regulated employees to ensure compliance with regulatory requirements while working from home.
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