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Accounting Giants Get Compliance Units E-mail
Written by The Progressive Accountant   
Thursday, 23 September 2010 15:38

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Thomson reuters logoThomson Reuters and Wolters Kluwer were marching in step this week as both tax and accounting companies said they were entering the government, risk and compliance market in a more concentrated way. Thomson got there by creating its own group while the next day its rival announced an acquisition to enable it to expand in the market. wolters kluwer logo

On Wednesday, Thomson said it had created a Governance, Risk and Compliance group that brought together several of its companies, including Complinet, Paisley, Westlaw Business, West's Capitol Watch, Oden and Westlaw Compliance Advisor. Thomson's former chief strategy officer David Craig, who has been named president.

Today, Wolters Kluwer disclosed it had purchased  FRSGlobal, a Brussels-based financial regulatory reporting and risk management company from The Carlyle Group and growth equity investor Kennet Partners.

GRC serves financial institutions, insurance and other organizations tools and resources in the areas of global regulatory and securities intelligence; business law research; contract and deal-drafting tools; internal policy management; e-learning; anti-money laundering solutions; and audit, filing, board of director and disclosure services.

FRSGlobal, aimed at international financial institutions, provides resources in the area of multi-country risk and regulatory reporting, and addresses major financial regulatory, compliance and risk management requirements globally.


The Progressive Accountant
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