MyComplianceOffice Blog

The U.S. Securities and Exchange Commission adopted proposed amendments to Rule 10b5-1 to enhance disclosure requirements and investor protections against insider trading. According to the SEC release, "the final rules aim to strengthen investor protections concerning insider trading and to help shareholders understand when and how insiders are trading in securities for which they may at times have material nonpublic information."

On 11 January 2023, the Financial Conduct Authority (FCA) published a "Dear CEO" letter to wholesale broker firms, highlighting key risks and drivers along with their supervisory focus for the next two years. The letter places particular emphasis on the Senior Managers and Certification Regime (SMCR), market abuse, personal account dealing-and the need for firms to have robust systems and controls in place to effectively manage and evidence these risks. 

With the end-February 2023 deadline for next steps looming, time is of the essence for senior executives and board members to review the current state of compliance in these areas and develop an action plan to fill in the gaps. 

The 2023 Report on FINRA’s Examination and Risk Monitoring Program provides firms with insight into findings from recent oversight activities of FINRA’s Member Supervision, Market Regulation and Enforcement programs. The report outlines regulatory obligations, findings from recent oversight activities, effective practices and additional resources. 

The Thomson Reuters^® Regulatory Intelligence survey and report Fintech, RegTech, and the role of compliance in 2023  explores the way in which firms are addressing the deployment and management of technology solutions.

The report points out that digital transformation is a continuum, with many benefits but also some challenges along the way.

It’s been an eventful year in Financial Services risk and compliance across the globe. From record enforcement levels to market disruptions to evolving regulations around emerging risks like digital assets and crypto, developments have been coming at compliance professionals at a fast and furious pace.

To keep up with the latest regulatory developments and understand the practical impact on compliance, check out MCO's library of 2022 on-demand webinars for expert guidance viewed at your convenience.