The push for compliance tech to be flexible, not ‘a burden’
Firms need to actively drive trade surveillance compliance above and beyond regulatory requirements, says Joe Schifano.
Leaders in any industry must anticipate the challenges–and opportunities–their companies face. In financial services, trade surveillance is of critical importance. So, as compliance practitioners responsible for trade surveillance, the ever-present question is this: Are we keeping pace with current and future challenges?
Maybe not. Consider the following examples of surveillance failures and increased scrutiny of surveillance practices by regulators around the world:
A top-tier bank was foundOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
SEC squares off with broker-dealers over data analytics usage
The Gensler administration has ruffled feathers in the broker-dealer community with a new proposal seeking to limit broker dealers’ use of predictive data analytics. But at the heart of this deal is something far more seismic: one of the first attempts by the SEC to regulate AI.
The Cusip lawsuit: A love story
With possibly three years before the semblance of a verdict is reached in the ongoing class action lawsuit against Cusip Global Services and its affiliates, Reb wonders what exactly is so captivating about the ordeal.
Vendors under new scrutiny in CFTC due diligence push
The planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audits.
Industry divided on whether Europe should delay FRTB
Most bankers prefer to keep to earlier start date, even though it puts continent out of sync with US.
Banks call for direct oversight of cloud providers by US regulators
Tri-opoly of cloud vendors “poses systemic risk” to financial sector, say risk managers
Can FIX fix patchy exchange outage communications?
A FIX working group is hoping to standardize the way that venues communicate with the sell side when markets fail.
Third-party guidance spurs US bank rethink on fintech partners
For conventional vendors, banks say due diligence rules will be the toughest challenge
Social distancing: Putting a $ value on the ‘S’ in ESG
The ‘social’ pillar of ESG has been much overlooked and underserved in terms of reporting and accurate and available data. That’s changing.
