MyComplianceOffice Blog

Regulators around the globe are taking a firm stance against off-channel communications. In the US, the SEC recently charged 26 firms related to extensive record keeping failures, resulting in around US$390 million in penalties. In the UK, the FCA has issued comparatively smaller fines—though the regulator is now calling on banks to report staff breaches of encrypted messaging policies. The move reveals the FCA’s intent to gain a much deeper understanding of how apps like WhatsApp, Signal, and Telegram are currently used within financial services.

The Securities & Futures Commission of Hong Kong (SFC) issues a 6-month ban on a trader for concealing a significant trade execution error and only reporting the incident to management and compliance 4 days later.

Hong Kong’s Securities and Futures Commission (SFC) has imposed a lifetime ban on a former Associate Director of a multinational investment bank and financial services company from re-entering the city’s financial industry.

APRA and ASIC hosted Superannuation CEO Roundtables in June and July 2024, focusing on a central theme of “superannuation funds as investors of members’ money”.

A former financial adviser and director of a financial institution (FI) in Brisbane, Australia, has been sentenced to 12 years imprisonment with parole eligibility after six years, including the 977 days of pre-sentence custody declared as time already served.