The FINANCIAL — Dow Jones Risk & Compliance, one of the leading providers of anti-money laundering, anti-corruption and sanctions compliance data solutions, has completed the acquisition of Cerico from the law firm Pinsent Masons and Campbell Nash, a consultancy owned by technologist James Armstrong.
Cerico’s cloud-based platforms enable businesses to assess risk and conduct due diligence on potential suppliers, clients and other third parties, in addition to tracking activity and approval processes.
Cerico’s platform already integrates Dow Jones Risk & Compliance data for screening and ongoing monitoring.
Post-acquisition, Cerico’s product will become part of Dow Jones’s workflow application, which is designed to provide a complete solution to assess, investigate and monitor third party risk for customers, according to Dow Jones.
Chris Lloyd, Head of Professional Information Business, Dow Jones, said: “Cerico is a best-in-class, end-to-end compliance tool that is an excellent fit for Dow Jones as we move further into offering fully integrated third party risk solutions.”
Cerico is the second compliance solutions company to have been acquired by Dow Jones as it builds out the applications within its Risk & Compliance offering. Dow Jones Risk & Compliance acquired RiskAverter from U.S.-based Compliance Strategies International, LLC, in February 2017.
As part of the transaction, Pinsent Masons will retain a strategic relationship with Dow Jones through which it will continue to provide legal content for compliance solutions and deliver supplementary support and consultancy.