Another day, another SEC fine: The SEC charges six credit agencies $49 million for recordkeeping failures
As the SEC rolls out another combined civil penalty, this time against credit rating agencies for recordkeeping failures, firms must look to ensure tone from the top, while the regulator must implement more robust deterrence methods to prevent further violations.
Hold the phone – What are the voice recordkeeping requirements for firms?
A large component of prevalently used messaging platforms is the ability to communicate through voice chat, which poses an avenue for compliance risk. Despite infrequent movement around voice recordkeeping, indications within current regulations and previous enforcements suggest that heightened scrutiny may be on the other line.
Regulatory Compliance
Regulatory compliance is a demanding process for corporations, especially when operating in multiple global locations. With varying demands across different regions, it can feel like a bit of a juggling act to comply.
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?
Nowhere to hide – FCA reviews state of crypto promotions
The FCA has published a review of whether cryptocurrency firms are meeting its latest rules around marketing and promotions - with many falling short of the required compliance standard.
Setting the standard – SEC proposes new joint data standards
The SEC, alongside eight other agencies, has proposed establishing new joint data standards under the Financial Data Transparency Act to make data more accessible, uniform, and to help regulators be more effective and efficient.
Now you see it, now you don’t – How to overcome the compliance risks of ephemeral messages to meet DOJ guidance
The Department of Justice (DOJ) has made it clear that it expects organizations to have plans in place to manage the increased use of disappearing messages. We explore the compliance implications of ephemeral messaging and set out five key steps to both mitigate risk and meet DOJ obligations.
Down, not out – What happens when service providers go dark?
The recent CrowdStrike outage affecting over 8.5 million Microsoft Windows devices and causing worldwide disruption has raised questions around how firms can ensure their operational resilience can withstand critical service providers ‘going dark’.
Regulatory Wrap Episode 36: ASIC’s Crackdown on Communication Risk
In Regulatory Wrap for the week to July 26, Jennie Clarke discusses ASIC’s recently defined expectations on communications risk and subsequent charges that prove its strict stance on noncompliance.
Bad finfluence – Is influencer marketing worth the risks?
With the FCA having announced court dates for a case against nine social media influencers involved in non-compliant financial promotions, do the benefits outweigh the risks for ‘finfluencer’ marketing?
Are conduct and culture moving up U.S. regulators’ agendas?
Activities from U.S. financial regulators over past months have shown increased attention around conduct and culture, signaling a shift that suggests these themes are becoming more of a defined priority.