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Take a Forward-Looking View to Manage Conflicts of Interest

Conflicts of interest are at the core of many regulatory compliance issues. But solely reacting to conflicts of interest after the fact is not enough to meet current regulatory expectations.

In remarks made at the PLI Broker/Dealer Regulation and Enforcement 2021 event in Washington, D.C on October 6, Gurbir Grewal, Director, SEC Division of Enforcement stated that the agency will “design penalties that actually deter and reduce violations, and are not seen as an acceptable cost of doing business”. He went on to say that the agency will be focusing on “proactive enforcement” to address risks before they cause any harm to investors.

 Taking a predict and prevent mindset around managing conflicts of interest can provide the proactive approach that regulators are looking for—and the right technology can provide the means to get there.

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MyComplianceOffice Expands Innovative Approach to Compliance with the Acquisition of Governor Software

Press release originally published at BusinessWire.com

MyComplianceOffice Ltd. (“MCO”), a company focused on creating valued compliance solutions for financial services, is pleased to announce the acquisition of Governor Software, a leading technology in compliance governance and oversight solutions.

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An Overview of Conduct, Culture and Accountability Regimes

The ASIFMA Compliance Week focused on various relevant topics for Compliance professionals, from culture and accountability to technology and innovation. Industry experts shared their insights during four days of sessions on regulatory enforcement trends, conduct, culture, the future of compliance, and market abuse.

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Individuals Charged in Relation to Insider Trading in Singapore

The Monetary Authority of Singapore (MAS) released a press release stating that three individuals were charged for illegally communicating non-public and material information and using such information to buy shares in a company. The investigation was jointly conducted by the Monetary Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.

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There’s No Doubt - Private Fund Regulation is Here to Stay

According to the U.S. Securities and Exchange Commission’s 2021 Examination Priorities, in the  last five years the number of Registered Investment Advisers the SEC Division of Examinations oversees increased from about 12,000 to more than 13,900, and the assets under management of RIAs increased from approximately $67 trillion to $97 trillion.

Because of the totality of assets managed, RIAs are always going to be a priority for the SEC. Examinations are not going anywhere. The Division has made significant process, staffing and technology updates to keep up with the growth and increase RIA coverage. In 2020, a year where COVID forced a mid-year switch to remote examinations, Division coverage of RIAs was 15%.

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