Regulatory Wrap episode 73: Comms compliance gets personal
In Regulatory Wrap for the week to October 24, Jay Hampshire covers FINRA’s $10,000 fine against an individual for off-channel breaches.
Regulatory Wrap episode 70: What the CFTC’s “enforcement sprint” means for compliance
In Regulatory Wrap for the week to September 12, Kathryn Fallah reviews recent enforcement action from the CFTC against 10 firms for technical compliance failures.
SEC plants crypto recordkeeping seeds with Spring 2025 agenda
Securities and Exchange Commission Chairman Paul Atkins has set the regulator on a course toward crypto with its early ‘Spring 2025’ statement, including proposals to bring crypto under the scope of existing recordkeeping regulations.
FCA Survey finds 178 WhatsApp policy breaches, with over 41% from senior staff
A survey of 11 wholesale banks found that 178 breaches of communications compliance policies were reported, despite firms introducing compliance recording and monitoring solutions, and the majority came from senior employees.
$15,000 FINRA fine for concealing profit-sharing via off-channel communications
A former Charles Schwab representative has been fined $15,000 and suspended for concealing an unauthorized profit-sharing agreement in “thousands” of off-channel text messages and emails.
Danish FSA finds data completeness failings at three major banks
A thematic study by the Danish financial regulator has identified data completeness and recordkeeping failures relating to voice and electronic communications at Danske Bank, Jyske Bank, and Nykredit Bank.
Is FINRA focusing on fairness by reducing HSP compliance burdens?
The SEC's January 2025 settlements for off-channel comms violations introduced lighter compliance terms, creating a divergence between earlier enforcement actions that imposed stricter membership oversight requirements on FINRA firms. After the SEC's rejection of a petition to review the pre-2025 settlements, FINRA is now looking to level the field by easing collateral consequences.
Regulatory Wrap Episode 59: SEC cracks down on settlor’s remorse
In Regulatory Wrap for the week to April 18, Kathryn Fallah unpacks what the SEC deems a case of “settlor’s remorse” following a request by 16 firms to amend off-channel communications settlements.
FCA bans Crispin Odey as non-financial misconduct focus grows
With the FCA taking action against Crispin Odey, a controversial hedge fund manager who has been the subject of serious misconduct allegations, it seems the regulator is keeping its word on prioritizing non-financial misconduct.
Regulatory wrap episode 51: FINRA’s 2025 regulatory report: what firms need to know
In Regulatory Wrap for the week to January 31, we extract the need-to-know details from FINRA’s Annual Regulatory Oversight Report for 2025.
IM impact: Are you accounting for emerging instant messaging channels?
Communications compliance persists as a regulatory focus area - but, amid a landscape of fast-emerging instant messaging applications, are firms treating IM platforms as a compliance priority?
