Dalbar creates compliance unit

Dalbar Inc., a financial services market research firm, has tapped a former insurance company executive to start a division that will focus on catering to the needs of compliance departments. Bruce Long, the recently retired president of Guardian Insurance and Annuity Co. of America, will work with Lou Harvey, chief executive of Boston-based Dalbar to launch the Compliance Support Services division. The new division aims to lower business risk and the cost of compliance review and monitoring through industry wide standardization, collaboration and tools. Initially, the division will offer review tracks requests for compliance approval of items; a monthly review of all websites to determine if unauthorized services or content are being advertised; training and testing on compliance practices; and compliance audits from offsite locations. The first phase of this new division will be kicked off at a forum of top chief compliance officers in Boston on Feb. 28.