$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?
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.
Regulatory Wrap Episode 35: CFTC Commissioner Pham Calls for Reform Amid Allegations
In Regulatory Wrap for the week to July 12, Jay Hampshire reviews CFTC Commissioner Caroline Pham’s statement on misconduct within the CFTC.
Social surveillance: The importance of comms capture for social media compliance
In addition to capturing communications channels like email, IM, and SMS, compliance teams must realize the importance of capturing data from social media platforms. To effectively manage widely used applications, firms should consider social surveillance and strategies to curb risks.
Five developments to show why operational resilience should be on your radar
Operational resilience is an essential practice to remain protected in a landscape of intensifying cyber threats. Regulators have taken steps to demonstrate their increasing focus on this matter by implementing guidelines, frameworks, and direction to preserve security.
How are financial regulators approaching AI integration?
Regulators globally have been implementing a variety of measures to manage the utilization of AI within the financial sector. We take a look at the key approaches so far.
ECB’s cyber resilience stress tests are on the horizon for 2024
Amidst a series of regulatory conversations spotlighting security, stability, and resilience, the ECB has announced a stress test aimed to assess how financial firms respond when faced with a simulated cyberattack.