By the dozen – SEC fines 12 municipal advisors $1.3 million for off-channel communications
The Securities and Exchange Commission has continued its ongoing crusade against off-channel communications with a spate of recordkeeping fines against 12 municipal advisors.
5 Tips to enhance voice surveillance
With regulatory expectations around voice channels increasing, firms need to ensure that they’re not only capturing relevant voice channels, but using voice data to enhance their surveillance and compliance.
Nine firms fined $1.24 million for not playing by SEC’s Marketing Rule
With a $1.24 million penalty representing the largest fine so far as part of the SEC’s ongoing Marketing Rule crackdown, are firms doing enough to ensure their marketing communications are compliant?
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.
Stand the resilience test – OSFI adds to the operational resilience conversation
In line with measures other regulators have taken, OSFI released its final Guideline E-21 on operational risk and resilience, which outlines expectations for firms to prepare for and respond to disruptive events that could affect business operations.
The Conduct Chronicles – “Social Media. Who is really following us?”
Emma Parry discusses the emergence of social media and the risks that come with it. As a result firms are cracking down on monitoring their employees and screening their backgrounds, however, they must ensure they are being transparent in their pursuit.
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.
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’.
The Conduct Chronicles – “On the Public Record”
Emma Parry writes on her experience of misconduct within the financial services, and how firms must do more than monitor communications to prevent it.