Communications Compliance

The SEC exam priorities for 2024 underscore the importance of compliance and recordkeeping within financial services. The focus will be on practices and products that pose risks to investors or the markets. In light of over $2.6bn in fines due to recordkeeping failures, the SEC will scrutinize unmonitored communication channels and the capture of essential records.

As penalties continue to rise for record-keeping failures, a new report from Theta Lake found that almost 98% of financials services leaders it surveyed were dissatisfied with their current archives and voice recording tools.

The realm of forms management is currently witnessing a significant turning point. With the increasing demands of customers and employees, companies are constantly striving to maintain technology costs whilst introducing in-house solutions. Smart Communications, a pioneer in customer engagement, has released a new white paper exploring the role of firms in interaction experience management. 

The wave of recordkeeping enforcement actions in the finance sector has now expanded to brokers, investment advisers, and credit rating agencies. Leading this charge...

Custodia, a frontrunner in regulated digital data services, has unveiled its latest product, CC1 Messaging. The rise in regulatory enforcement actions regarding record-keeping violations connected...

In the past few months, both the SEC and CFTC have targeted numerous Wall Street firms for extensive recordkeeping oversights. This resulted in eye-watering penalties surpassing $1.5bn. Both major and minor firms should anticipate that this assertive enforcement will remain unrelenting.

Theta Lake recently took the opportunity to explain to its readers and customers more about digital communications governance and its role in it. 

In an era of growing operational costs, it has become a pressing necessity for banks to embrace efficient Know Your Customer (KYC) practices. The global spend on regulatory technology (RegTech) is predicted to ascend to $207bn by 2028, a forecast that urges banks to channel their investment into automating their manual KYC processes.

A new survey by Shield and LeapXpert underscores the continued risk financial institutions face from unmonitored communication channels. Only 51% of the financial institutions...

Since 2018, Theta Lake, has formed a strong partnership with Zoom, one of the world's leading video conferencing platforms.