Recordkeeping violations continue to grow at a rapid pace, with nearly $4 billion in fines since 2021. Employees continue to use unapproved communication channels while regulators have made it clear that off-channel policies are not good enough. With so many ways to engage with colleagues and customers on UC platforms like Microsoft Teams, Zoom, RingCentral, Webex by Cisco and more, compliance teams are struggling to keep up with the resources and risks associated with enabling employees to be efficient and productive -  chat, voice, GIFs, reactions, file sharing and SMS to name a few. Theta Lake solves this problem by offering the most complete capture coverage of UC platform features all in one place with seamless integrations that drive IT efficiency and reduce risk uncertainty.  However, there’s more to it than that. Ensuring that your capture and archiving environment is working as intended, and having controls in place to spot risks, can make a critical difference during an audit, and can save a lot of time and resources while executing day-to-day processes. 

Responding to governance events, like audits, investigations and e-discovery, in the era of unified communications and collaboration (UCC) is hard. IT stakeholders, such as those responsible for compliance archive storage and architecture, responding to search requests from compliance and legal, are overwhelmed by the volume and complexity of today’s modern communications and by the constraints of heritage archiving investments. Unfortunately for those involved, both on the IT and compliance/legal side, search and discovery might consist of a “best guess” effort making it challenging to identify risk or wrongdoing, form a judgment on the merits of a case and at its worse, suffer fines, sanctions, negative verdicts and damage to the organization’s brand and reputation.

The SEC and the CFTC have announced charges against another 26 broker-dealers and investment advisers for significant recordkeeping failures. The combined $477.75 million in fines add to the penalties already levied for widespread and longstanding failures to maintain and preserve electronic communications bringing the total to over $3 billion. 

The findings from this latest round of actions mirror those of other recent enforcement cases, and serve as a stark reminder that the obligations and ongoing regulatory scrutiny on recordkeeping and supervision haven’t gone away.

In today’s fast-paced digital world, SMS has become an indispensable tool for communication, especially in financial services where timely and secure messaging is crucial. However, the regulatory landscape governing SMS communications is complex and stringent. 

Managing customer interactions across multiple channels can be challenging. That’s why we’re excited to introduce two powerful new integrations between Theta Lake and RingCentral: digital and omnichannel support for RingCX Digital and RingCentral Contact Center. These integrations are designed to streamline your digital communications, ensuring compliance and efficiency across all platforms.

LinkedIn has solidified its position as an indispensable tool for professionals, particularly within the financial services sector. Known for its vast networking capabilities, LinkedIn provides a platform where financial professionals can connect, share insights, and foster business relationships. With over 740 million users globally, it’s no surprise that LinkedIn is where a significant amount of financial services business is conducted. In fact, LinkedIn reports that over 60% of its members in financial services engage with content on the platform daily, highlighting its importance as a business tool.

In the rapidly evolving landscape of business communication, Verizon stands out as a premier carrier, serving millions of businesses with reliable and efficient network services. According to a recent report, Verizon boasts over 99 million postpaid connections, solidifying its position as a carrier of choice for businesses across various industries. Among these, the financial services sector significantly relies on Verizon’s robust network to facilitate seamless and secure communication, particularly through SMS.

In today's fast-paced business world, productivity is paramount. 

AI-generated communications tools, particularly note-taking and meeting summaries, are revolutionizing the way businesses operate. These tools automatically capture key points, action items, and decisions, allowing team members to focus on the discussion rather than scribbling notes. This not only saves time but also ensures that no crucial detail is missed.

In today’s ever-evolving business environment, balancing regulatory compliance with efficient communication is a challenging task, particularly for financial services organizations. That’s why we’re excited to introduce the powerful integration with Webex Calling, designed to make voice communications compliance easier than ever. 

XLoD Global 2024, held in NYC on June 11 brought together regulatory intelligence leaders, entrepreneurs, and tech enthusiasts from around the globe focused on organization experiences, best practices and technology approaches to the three lines of defense for risk and audit scenarios. While there were a broad array of topics covered- from AI and blockchain to cybersecurity and IoT, the issue of voice compliance- and how to best approach it was a topic that surfaced itself in numerous panel sessions, roundtables and customer interactions. As seen in one session, 67% of the audience is seeing an increase in voice compliance regulatory inquiries and exams.