1. Over the past couple of years, regulators have been steadfast in fining firms who fail to monitor off-channel comms on platforms like WhatsApp
2. This is an unusual case that identified Xbox audio chat as the method used to spread non-material public information
3. The insider dealing resulted in over $400,000 of illicit gains – per Microsoft’s Terms of Service, Xbox chats may be recorded where inappropriate behavior is observed
4. In June 2023, the FCA warned industry players that there is “nowhere to hide” from scrutiny, and this insider dealing fine proves the regulator’s sentiment
5. Communication teams should take the growing number of messaging channels as a sign to implement future-focused, scalable capture solutions
This Regulatory Wrap is brought to you by Global Relay’s Director of Regulatory Intelligence, Rob Mason.