Charles Schwab Corp. has finalized its purchase of Compliance11 Inc., a Chicago firm that helps securities and investment firms manage their compliance with regulations.

The acquisition will help the San Francisco financial services company expand its designated brokerage services business, Jim McCool, executive vice president and head of institutional services at Schwab, said in a press release Wednesday. That business helps financial firms monitor the trading activities of their employees.

Schwab announced the deal last month. Compliance11 provides compliance software for brokerage firms, investment advisors, hedge funds, private equity firms and pension funds. The software helps companies manage their disclosure, tracking, surveillance and reporting activities.

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