Technology Helps Firms with Remote Work Compliance

Remote work is a part of the current normal in the financial services industry, in the short term and maybe even longer. Arizent, the parent company of American Banker, PaymentsSource, The Bond Buyer and other titles, recently released a survey polling executives to understand how firms are planning the return to the workplace for their employees.

 

Even as some firms have begun the process of reopening offices, the survey shows that almost 6 out of 10 employers are uncertain about the timing of when employees return to the workplace, and more than half report reluctance from their employees around going back to an in-person work environment. The survey also highlighted that 48% of employees are very interested and 30% are somewhat interested in continuing to work from home. 70% of financial services and 80% of professional services firms polled are likely to allow their employees to continue to work from home if their position allows it.

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Conflict of Interest: examples in financial services and more

Companies in financial services have an elevated risk of encountering conflicts of interest, due largely to the influence and connections that come with the territory. This article will tell you how to identify and manage conflicts as they arise.

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Meet a Member of the Team - Jasmine Northrop

We are an international team with offices in 3 different continents and employees from more than 20 different countries. In this blog series, we are pleased to show you the backstage of our operations, bringing you closer to our team members.

This week we interviewed a member of the Customer Success Team. Our Customer Team builds the bridge between our products and our customers. MCO have a customer-centric approach, and our team is always trying to find solutions for any concern our users bring forward.

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MNPI Remains a High Risk Area for Compliance

Failing to adequately manage Material Non-Public Information (MNPI) remains a high risk area for compliance, as evidenced by recent actions in the U.S. and the U.K. A private equity firm paid $1 million to settle SEC charges for failing to implement effective Insider Trading compliance policies. The FCA published a Decision Notice fining a former CEO £658,900 for market abuse and banning him from future roles linked to regulated activity.

To avoid hefty fines and actions, firms must have comprehensive and actionable policies and procedures around the management of MNPI and insider lists to minimize risk.

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FCA Consults on Extending SMCR Deadlines

The FCA is consulting on extending the deadlines for the SMCR for solo-regulated firms until 31 March 2021. This delay will give firms, significantly affected by the Covid-19, time to make the changes they need. 

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