Clients versus compliance: banks hung up over WhatsApp fines

Most opt for outright ban, but some seek technological solutions to monitor private messaging.

Credit: montage

For busy bankers, there’s always a temptation to send one more message from their mobile before a flight takes off, even when the cabin crew are telling them to switch to airplane mode. Now it seems operational risk managers are fighting against the same instincts on the trading floor.

But the US Securities and Exchange Commission (SEC) is a cabin crew with a difference—they can fine you for non-compliance. Together with the Commodity Futures Trading Commission (CFTC), the SEC dished out fines

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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.

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