WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Steven Meirink, Executive Vice President at Wolters Kluwer Compliance Solutions, has received prestigious awards from Finance Monthly and the American Business Awards. Recognized for his exceptional leadership, this year marks the second consecutive win for the FinTech Senior Leadership Award and Tech Innovator of the Year accolade. Under his leadership, the Compliance Solutions business has thrived during challenging times, enhancing its digital offerings, notably with the Paycheck Protection Program software, which helped retain over one million U.S. jobs during the pandemic.

The durable medical equipment (DME) industry faces strict regulations that can result in severe penalties for non-compliance. On May 10 at 1 PM ET, Wolters Kluwer CT Corporation will host a webinar titled “Business Licensing 101: Compliance Fundamentals for Providers of Durable Medical Equipment”, aimed at helping providers navigate these regulatory challenges. Hans Howk, Manager of Content Management, will address common licensing pitfalls and compliance strategies. With nearly 130 years of experience, Wolters Kluwer offers expertise in legal compliance and works with many Fortune 500 companies.

Wolters Kluwer Finance, Risk & Regulatory Reporting participated in a panel discussion on May 18, focusing on regulatory reporting best practices for Southeast Asian banks. Led by Subbaiyan Vaithinathan, the discussion aimed to address the challenges banks face from digital competition and evolving regulations. The webinar highlighted the need for efficient compliance practices amidst tighter regulatory frameworks, emphasizing the importance of advanced data management solutions like OneSumX for Regulatory Reporting, which streamlines data accuracy and compliance.

Wolters Kluwer ELM Solutions celebrates five years of its AI-powered LegalVIEW BillAnalyzer at the CLOC Global Institute in Las Vegas. The company will present a panel titled “You Can’t Manage What You Don’t Measure”, showcasing AI's impact on legal operations. LegalVIEW BillAnalyzer utilizes over $150 billion in invoicing data, enhancing compliance and outside counsel management. New features include updated Tableau visualizations and a Diversity Module. The panel on May 10 at 10:30 AM PT will feature industry experts discussing AI's transformative role.

Wolters Kluwer highlights that not-for-profit organizations face unique tax challenges for 2021, exacerbated by the pandemic and evolving tax legislation. Key issues include the expiration of Covid-related employment tax breaks and changes to deductible charitable contributions. Notably, the Paycheck Protection Program loans have clarified deductible expenses for 2021, impacting unrelated business income. Furthermore, Form 990-T reporting has seen changes, and various tax provisions related to Social Security taxes apply for part of the year.

Beam Technologies has selected NILS™ INsource® from Wolters Kluwer Compliance Solutions to enhance its compliance capabilities. This selection aims to address challenges in managing complex insurance regulations across different states and product lines. The NILS INsource solution offers a cost-effective, efficient approach to regulatory requirements. It’s a widely-used tool for insurance compliance professionals, utilized by nearly 7,000 professionals across the U.S. and its territories.

Wolters Kluwer reaffirmed its full-year 2022 guidance in its first-quarter trading update, reporting an 8% organic revenue growth. Recurring revenues, making up 81% of total revenues, increased 8%, while non-recurring revenues rose 9%. The adjusted operating profit margin benefitted from operational efficiency, even as personnel expenses increased. Free cash flow grew by 6%, and net debt-to-EBITDA improved to 1.2x. The firm has completed €216 million of a planned €600 million share buyback by early May 2022. The CEO expressed confidence despite expected challenges in the remaining year.

A recent survey by Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions, conducted by ALM Media, reveals that nearly 50% of corporate respondents expect a rising demand for legal technology and corporate compliance providers over the next 3-5 years. Key findings show that 93% of compliance departments have outsourced work in the past three years, with technology strategy and compliance management being top outsourced functions. Legal technology providers are preferred by 59% of respondents for managing these priorities.