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November 8, 2022

Illuminating our path forward: illumis, inc. is now a COMPLY company

The news is out! illumis, inc. is now a COMPLY company! We’re incredibly excited about the new opportunities and benefits, this brings for you, our customers, and our organization.


We know you have mostly have questions though and because we are in the business of aggregating data and insight, we took this time to pull together a few key frequently asked questions to help you learn more about this new parent brand and what it all means going forward.

1. Will the illumis product or team change?


In short, no. There will be no immediate changes to the product, technology or team you have come to know and rely on for your political contribution monitoring and verification. Customers will continue to have the same access to the illumis solutions they depend on., however, they will now also enjoy increased access to the breadth of offerings available across our the entire COMPLY portfolio of brands.

2. What will be the biggest immediate impact of the new parent brand?


Externally, the most noticeable change will be our emails. Instead of emailing name@illumis.com, you will now receive emails from name@comply.com. Don’t worry though, emails sent to @illumis.com will continue to be forwarded to our new inbox for the next several months, ensuring we never miss a critical question or urgent communication.


3. How will this new parent brand benefit clients in the long term?


The official alignment of ComplySci, RIA in a Box, NRS and illumis under the COMPLY umbrella has been in the making for more than a year, with strategic acquisitions bringing together each individual powerhouse to form what is now COMPLY. From our team’s perspective, this has always been a long-term project, thinking past the immediate benefits, to uncover how this can truly impact and empower our clients. The new COMPLY brand is the first official step toward integrating our full suite of products and solutions, which will, in the long-term offer exponentially greater benefits for our customers. The integration of services allows our team to provide customers with both bundled and a-la-carte offerings, creating customized compliance solutions and resources to meet your unique needs today and tomorrow.


4. What other organizations fall under the parent brand COMPLY?


The COMPLY portfolio of brands is made up of ComplySci, RIA in a Box, NRS and illumis. By aligning each unique brand under the COMPLY umbrella, we are now able to provide clients with the most comprehensive offering of regulatory compliance technology, consulting and education resources on the market today for financial services firms.


5. Where can I learn more about COMPLY?


Visit COMPLY.com to learn more about the broader organization and the breadth of regulatory compliance solutions we offer.
Why real-time data is essential to helping your investment firm avoid violating pay-to-play regulations, SEC rule 206(4)-5

Political contributions made by firm employees pose a significant threat to investment advisory firms. And even firms with the best compliance teams can be at risk of violating pay-to-play regulations, like the Securities and Exchange Commission’s (SEC) rule 206(4)-5, given the complexity of the rules and the myriad of regulations to which firms must comply.

Because of this, investment firms must arm themselves with the access to and support of real-time data, which can help identify potential violations and anomalies in the political donation process.

By leveraging real-time data, investment firms can quickly detect suspicious or unauthorized activities and take prompt action to prevent pay-to-play violations.

Beyond SEC Rule 206(4)-5: A look at state and local political contributions compliance regulations

SEC Rule 206(4)-5 is arguably the most well known regulation regarding political contributions compliance or pay-to-play compliance. However, it certainly isn’t the only regulation to which firms must comply.

In fact, beyond federal regulations, firms which take part in government contracted work must contend with numerous and varied state and local regulations as well. Such regulations present unique challenges because of the various requirements within each, which should they be neglected, can cause significant financial and reputational damage.

Aligning pay-to-play rule 206(4)-5 compliance practices with your investment firm’s regulatory compliance program

While it would be almost too easy to treat the Securities and Exchange Commissions’ (SEC) pay-to-play rule 206(4)-5 as a special requirement implemented only during election years, that mistake can cause serious, firm-wide damages. In fact, for investment firms, establishing a compliance program which actively and regularly incorporates compliance with the SEC pay-to-play rule is essential to avoiding fines, sanctions, lockout periods, loss of revenue and a damaged reputation.