On March 3, 2021, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced its 2021 Exam Priorities—the first such missive in the pandemic era. The Commission’s ability to be flexible and nimble in its approach to 2020 exams and plans for this year are laudable. To bolster that effectiveness, the recently created Event and Emerging Risk Examination Team will improve and expand OCIE’s rapid response capabilities. (I wrote more about the EERT here). Based on this year’s priorities, OCIE and EERT will be very busy in 2021.
Compliance and security for modern collaboration platforms like Zoom, Microsoft Teams, Cisco Webex, RingCentral, Red Box, and more is critically important particularly in light of the increase in usage of these platforms. To help you navigate the complexity and demonstrate a better way of conducting compliance and risk detection within these platforms, we've created a webinar series that deep dives into various areas. This post contains our upcoming webinars that you can attend live and others that are available on-demand. Each is between 10 - 25 minutes in length.
"How do I do [fill in the gap]?" OR "Just HOW do you make security and compliance easier for [Zoom, Webex, MS Teams, RingCentral, RedBox...]?
FinTech Global released its annual Buyer's Guide this morning, which spotlights financial institutions and supplier ecosystem members in the regulatory technology (RegTech) market. The guide is intended to be a tool for financial institutions to navigate the available solutions, technologies, and suppliers of the RegTech market.
Typically, when we think about data breaches or loss, we picture scenarios where vast troves of personal data are accessed through brute force attacks or phishing attempts, resulting in thousands or millions of records being impacted. However, the release of smaller amounts of data, even a single PDF document or PowerPoint slide, can have serious and damaging ramifications for an organization.
Video conferencing has increased in importance over the last year due to the shift for most business employees to work away from the typical office location, allowing employees to simulate in-person collaboration. But it's also changed the way businesses interact with their customers, particularly in the financial services arena.
Voice recording and review is an essential practice for highly regulated industries. This is because regulations concerning recording, handling, and retention have been in place for some time. To addressreview requirements, many organizations have turned to voice-to-text transcription, which companies have deployed in waves in an effort to gain better insights into their audio and video information. While many use cases have been popular in regulated industries like financial services and healthcare, the relatively small gain in insights using transcription compared to the high resource and time cost to implement them hasn’t yielded the right result.
While most startup founders would prefer not to pore over laws, regulations and interpretive materials to design a perfect product, it’s an essential exercise for those developing financial services solutions. For fintechs and the other finserv-related startups (e.g., regtech, suptech, etc.) understanding the regulatory obligations of customers and prospects will be core to your mission. In some cases, the process of interpretation and analysis might be a heavy lift involving expert outside counsel, lobbying efforts, and specialized consulting services.