NovaStar Picks Zequel Compliance Tool

Miami-based Zequel Technologies has announced that NovaStar Financial, Kansas City, Mo., has licensed and implemented its DynamicPolicy tool for Sarbanes-Oxley compliance.NovaStar is the first announced mortgage lender to adopt the system, which was released in January to manage companywide policies and procedures mandated by the Sarbanes-Oxley law. The DynamicPolicy SOA Solution offers to enable company executives to develop, manage, and enforce internal controls, including policy and procedure documentation, exception management, and the monitoring and reporting of compliance irregularities. NovaStar officials said they picked Zequel's DynamicPolicy because it goes beyond Sarbanes-Oxley compliance to help a company handle broader strategies for policy development. The Securities and Exchange Commission has given large publicly held companies until mid-2004 to meet the financial reporting and certification requirements of the Sarbanes-Oxley Act of 2002.