Financial Services and Global Regulatory Requirements: Balancing the ease of electronic-communications usage with regulatory expectations

May 2023Regulation Banking & Finance

Abstract

Rapid technology developments over the last twenty years have significantly limited the foundational principle that financial regulators should have the ability to monitor and enforce compliance with market rules. This is due to employees’ adoption of personal communications methods that are not covered by monitoring programs (typically voice calls, chat and email). While the technology available to compliance teams also evolved, the adoption rate for controls is slower than with communications technology. The SEC and CFTC’s focus on wall street firms that tolerate such unapproved communications create new risks to firms that fail to rein in these practices amongst their employees.

Subscribe to reador

The digitalization of financial services is supporting the simplification of day-to-day life, making financial services available round the clock and easily accessible to the most remote parts of the globe....Read more

Andreas Gustafsson

Partner, Stockholm University - Swedish Corporate Governance Institute, Sweden

Sofia Skroubi

Head of Legal Europe, Regulatory & Commercial, FNZ Group, Sweden

SWIPE, CHIP, TAP: Regulatory Dynamics in the Card Payment Industry and its Impact on Financial Inclusion

The card payment industry has undergone significant transformations with the advent of innovative payment technologies. This paper explores the regulatory dynamics shaping the industries and their consequential effects on financial...Read more

Jesse Mudaliyar

Senior Managing Counsel, VP, Mastercard EEMEA, UAE

Financial Services and Global Regulatory Requirements: Balancing the ease of electronic-communications usage with regulatory expectations

Abstract

Related Papers