December 14, 2011 - Wolters Kluwer Financial Services, a leading worldwide provider of comprehensive compliance, risk management and audit solutions for the financial services industry, announced today that it has acquired the regulatory compliance content of PRINGLE® Policy and Procedure Solutions (PRINGLE) from PRINGLE Publications Corporation. More than 500 U.S. financial institutions trust the regulatory knowledge and expertise within the PRINGLE solution.
"What sets Wolters Kluwer Financial Services apart from its competitors is our ability to deliver actionable and intelligent regulatory compliance and risk management content to our customers," said Brian Longe, CEO of Wolters Kluwer Financial & Compliance Services. "This acquisition allows us to provide our customers with even more value by expanding access to industry-leading PRINGLE compliance policies and procedures content to a larger number of financial institutions."
Wolters Kluwer Financial Services will integrate PRINGLE's compliance and safety and soundness policies and procedures, worksheets, forms, and regulatory checklists and tests into the Policies and Procedures module of the company's ARC Logics for Financial Services enterprise risk management (ERM) solution. The company will offer its ARC Logics customers with direct access to PRINGLE content through the module, which will provide a common, dynamic platform to proactively manage, edit, and update their policies and procedures.
The integration of PRINGLE content within ARC Logics further strengthens the continuum of control that compliance professionals require to ensure their primary regulatory obligations are met within the operational units.
"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.
"PRINGLE's policies and procedures content and other tools are a perfect complement to Wolters Kluwer Financial Services' deep regulatory knowledge and compliance content, founded upon more than 50 years of experience," said Laura Pringle, principal and co-founder of PRINGLE Publications Corporation. "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. We look forward to working with Wolters Kluwer Financial Services on future alliance opportunities whenever possible."
Financial Terms of the deal have not been disclosed.