In Regulatory Wrap for the week to December 6, Jennie Clarke examines the findings of Global Relay’s newly published 2024 Data Insights report.
In this week’s Regulatory Wrap, we studied the results of our newest report, which analyzes data from over 12,000 financial firms, to determine what channels firms are prioritizing and what’s ramping up to be the next channel concentration in relation to recordkeeping and surveillance needs.
1. In light of the combined $600 million in recordkeeping fines this year, there’s been a 258% increase in the number of firms capturing WhatsApp in 2024
2. 33% of firms are now capturing social media communications following regulatory action on the topic, with a particular concentration on LinkedIn
3. There’s been a 28% increase in the capture of employees’ personal LinkedIn accounts, and a 12% increase in the capture of corporate LinkedIn pages compared to last year
4. Since the introduction of the SEC Marketing Rule, there’s been an 87% increase in social media and website data capture – proving that regulatory activity is having an influence
5. Findings show a 400% increase in data capture from Gen AI platforms like ChatGPT, demonstrating that firms are securing against possible future regulatory scrutiny surrounding developing technologies like AI
This week’s episode is brought to you by our Head of Content, Jennifer Clarke.
Report insights reflect both the reactivity and proactivity we’ve seen throughout 2024. Firms have adapted processes to align with existing regulatory attention, and as demonstrated, are taking steps to future-proof their compliance.
