Frequently Asked Questions

1. What is INSIDeR why its useful for insider list management?

INSIDeR is an a system for controlling the flow of inside information and insider list management. Thus, INSIDeR is a compliance tool designed to help you with the most crucial and also challenging requirements of the New Market Abuse Regime (MAR). Development roadmap of INSIDeR provides also many other compliance-related data processing features and functionality.

2. Who should consider implementing INSIDeR for their compliance purposes?

  • Issuers - the requirements of the Market Abuse Directive apply to companies that have their securities traded on the regulated market or stock exchange operating in the member state of the European Economic Area.
  • Law Offices, Banks & Investment Firms - rules of the Market Abuse Directive apply also to law firms, banks and investment firms if they act on behalf of issuers in projects that involve access to inside information relating to issuers. Besides Market Abuse, INSIDeR is also suitable for banks and investment firms in the area of MiFID compliance - keeping the list of relevant persons, managing the process of personal transactions reporting and avoiding conflict of interest.

3. Are there any jurisdiction-specific limitations while considering the suitability of INSIDeR?

INSIDeR has been developed for highly demanding Blue-Chip companies considering international nature of their operations and complex corporate structure. The result is universal functionality that enables you to comply with the highest EU standards in the field.

Based on our jurisdiction-specific analysis, INSIDeR would be a suitable compliance tool for companies and service providers from the following EU Member States in particular: Finland, Sweden, Denmark, Norway, Poland, UK, Germany, France, Estonia, Latvia and Lithuania. In the context of continuous alignment of EU and US securities laws and practices we also consider INSIDeR being perfectly suitable compliance tool for all public companies in the United States.

4. Are there any company-specific factors we should take into account?

No, would be a brief answer. However, basic rule is that the more dynamic and complex business you run (i.e. the more inside information cases is generated) the more benefits will be gained with the help of INSIDeR in terms of compliance level and optimization workflows within your compliance function.

It is also important to bear in mind that regulators nowadays expect from senior management of every publicly traded company to take responsibility for ensuring that there are appropriate systems and controls in place to manage compliance risks.

Surprisingly, large majority of big multinational companies handle this field of compliance (i.e. controlling the flow of inside information) with the help of standard Office tools (Excel etc) only. That does not raise questions only about appropriateness of the systems (e.g. no audit trail, protection of the information) and controls but leaves the issue of alternative costs. Our case studies have shown that the implementation of INSIDeR has led to dramatic improvements in terms of efficiency of operations within compliance function.

5. Tell us more about technical infrastructure of INSIDeR?

INSIDeR is a web-based secure information system, that can be used as Software-as-a-Service (SaaS) model directly from our secure hosting server. Majority of our customers use INSIDeR as hosted service.

In case your company has strict internal policies, you could consider hosting INSIDeR in your own server. The system is built on common web application components that make hosting and maintenance relatively easy.

6. When I can start using INSIDeR?

The setup of INSIDeR On-Demand service will take few business days, so you can start using INSIDeR already from next week. After installation we help importing your company's current insider list, advise your company on improving your compliance processes and will do the training session for your employees.

In case of installing INSIDeR to your company in-house server, the process could take around few weeks, where most of the time usually goes on choosing and ordering the right hosting server. Otherwise the setup process is similar to the one described above.

7. Do you provide also support?

Yes, we do as we acknowledge that the after-sales support is of the utmost importance. INSIDeR has a dedicated Support Team providing on-line support & advice during business hours. Subject to terms and conditions of the support contract, we ensure that queries from our clients are addressed within 1 business day. Support requests can be submitted via our Customer extranet web-based website or e-mail. We handle the requests by the service level agreement terms, part of the INSIDeR service contract.

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"It takes forever to learn the rules and once you've learned them they change again"

Murphy's Law
"We will use our resources to tackle cases of market abuse that pose a threat to confidence in the UK's financial markets"

Howard Davies, FSA UK