MetricStream Inc., the Redwood Shores, Calif. compliance software developer today announced that Advanced Equities Financial Corp., a Chicago-based diversified financial services company, has selected MetricStream for its Sarbanes-Oxley (SOX) compliance management efforts.

Advanced Equities will use MetricStream to document their processes and controls in a single repository, test the effectiveness of internal controls and use that information to drive appropriate disclosure and remediation processes to achieve compliance with Section 404 of SOX.

"We believe that regulatory compliance will permeate every aspect of our business," said Joel E. Marks, Advanced Equities vice chairman and COO, in a prepared statement. "Hence we wanted to make sure we selected a vendor that addressed our Sarbanes-Oxley 404 requirements today, and had the architecture, the flexibility and the scope to support a broad set of compliance initiatives in the future."