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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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How To Meet FCA Reporting Requirements (and Avoid Regulatory Action)

The Financial Conduct Authority (FCA) regulates over 58,000 financial services firms and financial markets in the UK. To do this effectively, the authority needs timely and accurate data from firms to identify malpractice and take appropriate action.

This is why the FCA’s reporting requirements exist—to ensure it has the information it needs to perform its role. It’s also why the FCA levies tough penalties on firms that fail to meet their reporting obligations.

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Start to Prepare for the Senior Executive Accountability Regime (SEAR)

The Central Bank of Ireland and other international regulators such as the FCA in the UK and MAS in Singapore have prioritised 'individual accountability for several years. The proposals and now the draft legislation to introduce the Senior Executive Accountability Regime (SEAR) in Ireland are significant steps in that development.

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