Singapore: Proposed Guidelines on Accountability and Conduct

The Monetary Authority of Singapore updated its guidance on the 10th September 2020 on the five high-level outcomes that financial institutions should achieve on individual accountability and conduct.

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MCO wins the Wealth Management 2020 Industry Awards

MyComplianceOffice the leading provider of automation for the management of compliance and conduct risk, has been awarded Best Technology Provider for Compliance at the Wealth Management 2020 Industry Awards.

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Outdated Compliance Tech is Causing Nightmares

The thought of an employee working from home and revealing company private information is a compliance nightmare and it deeply frights regulators. Working from home increased Compliance fears and created numerous challenges for firms. Compliance had to carefully think over the best way to monitor conflicts of interest, manage the risks around the identification, handling and disclosure of inside information because of the new circumstances.

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The Right Story Builds a Strong Business Technology Case

Getting buy-in from key stakeholders in your organization is a critical part of a successful software purchase and implementation process. With budgets tight and resources limited, how do you make the case for your organization to invest in compliance technology?

 

It all starts with telling the right story within your firm.

 

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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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