The Conduct Chronicles – Conduct and Culture: Insights from the US Record Keeping fines
Culture is determined by more than just 'tone from the top', it requires ongoing effort and investment. Firms should also look to celebrate good behavior, and ensure incidents of bad behavior are being escalated.
Regulatory Wrap episode 53: The CFTC’s new self-reporting matrix
In Regulatory Wrap for the week to February 28, Kathryn Fallah breaks down the CFTC’s new self-reporting matrix, which includes potential penalty reductions of up to 55%.
Will CFTC self-reporting incentive create a self-regulating industry?
The CFTC has announced that firms meeting high levels of self-reporting, cooperation, and remediation with the regulator could see any financial penalties for misconduct reduced by up to 55%.
U.S. regulatory enforcements against non-compliant electronic communications
Obtain an overview of the direction U.S. regulators have taken in approaching non-compliant communications, highlighting notable enforcement actions for channels like text, instant messaging, and social media.
Conduct and culture: A growing focus for U.S. regulators?
Discover how the focus on conduct and culture has developed over the last several years in U.S. financial regulation.
CFTC audio comms recordkeeping fine sounds the bell on voice capture
A CFTC fine against a firm for recordkeeping lapses related to audio messages across multiple platforms raises flags about both voice communications capture and data governance.
$118 million in SEC and CFTC fines continues off-channel comms crackdown
The pace of regulatory enforcement action for recordkeeping failures continues to increase, as both the SEC and CFTC issue more fines for off-channel communications breaches. But two cases reinforce the benefits of self-reporting and cooperation.
Watch out for WhatsApp: Does the FCA plan to follow in the footsteps of U.S. regulators?
There has been no shortage of fines for recordkeeping failures in the U.S., particularly from regulators like the SEC and CFTC – though movement from the U.K.’s primary financial regulator seems to point toward a future concentration on the topic.
Regulatory Wrap Episode 39: $49M in SEC Fines for 6 Firms
In Regulatory Wrap for the week to September 6, Jennie Clarke discusses the continuation of SEC recordkeeping fines, with the most recent being against six agencies for $49 million.
Regulatory Wrap Episode 38: Whistleblowing in the U.S. vs. U.K.
In Regulatory Wrap for the week to August 30, Jay Hampshire unpicks the difference in the U.S. and U.K. regulatory approach when it comes to whistleblowing.
Change the record – SEC charges 26 firms combined $390 million for recordkeeping failures
With the SEC and CFTC acting against over two dozen firms for recordkeeping failures relating to off-channel communications, when will financial services finally get the message on communications compliance?