News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-11-15T17:00:00
Firms attempting to meet regulatory requirements for monitoring employee use of off-channel communications for business purposes face a bedeviling number of obstacles.
How much is enough, in the opinion of regulators? How much is too much, in the eyes of employees? Is using internal policies, controls, and training sufficient, or should a firm consider hiring a vendor to help?
In a series of stories, Compliance Week will take readers through issues related to monitoring off-channel communications use by employees of entities registered with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Any firm under criminal investigation by the Department of Justice (DOJ) might also face scrutiny of their employees’ use of unapproved electronic communications.
First, understand regulators’ expectations remain high. In future examinations, the SEC and CFTC are likely to continue finding new misconduct related to off-channel communication use by registered entities. Their response will be to penalize past transgressions, require mitigation, and extract promises that a firm is back on a path to compliance.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2024-05-09T11:00:00Z By Kyle Brasseur
Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.
2024-04-30T15:30:00Z By Aaron Nicodemus
Zoom Chief Privacy Officer Lynn Haaland discusses with Compliance Week the market forces that led the company to offer Zoom Compliance Manager, which helps firms handle off-channel communications issues on the platform.
2024-04-26T14:13:00Z By Kyle Brasseur
The Department of Justice’s renewed scrutiny toward a corporation’s approach to the use of personal devices strengthens the case for companies to get away from bring your own device, a panelist at Compliance Week’s 2024 National Conference argued.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
Site powered by Webvision Cloud