US-based financial advisory firm Jefferies Group has chosen Behavox to offer compliance supervision for its operations across the world.
The vendor’s Compliance Supervision platform will be the substitute for Jefferies’s existing email supervision solution.
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The choice of the vendor is said to follow a competitive process that involved a proof of concept during which Behavox is said to have showcased a high capacity to lower false positives.
The technology of Behavox is powered by machine learning algorithms, which facilitates real-time detection of market abuse, insider threats, collusion as well as reckless behaviour. The New York firm gathers and interprets employee data.
Behavox’s solution supports compliance with regulations including Dodd-Frank, FCPA, and MiFID II.
Jefferies chief compliance officer Lauri Scoran said: “We look forward to partnering with Behavox – they have established themselves as a strategic technology solution when it comes to data analysis and regulation.
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By GlobalData“The Compliance Supervision Platform Behavox developed further supports our regulatory and business requirements.”
Behavox founder and CEO Erkin Adylov said: “Behavox is committed to helping Jefferies constantly improve and expand the firm while remaining compliant with regulatory ordinances and their commitment to risk management.”
The New York-headquartered Jefferies Group offers investment banking, advisory, sales and trading, research and wealth management services.
