In a recent interview with Yahoo Finance, United States Securities and Exchange Commission Chair Gary Gensler said that he has one goal for crypto regulation in 2023 – “making crypto exchanges and lending platforms come into compliance.”
A recent survey by Coresight Research estimate that the corporate gift giving market in the U.S will reach $258 billion in 2022. That's a lot of potential gifts sent to employees, customers and vendors - and a lot of potential opportunity for conduct risk.
The U.S. Securities and Exchange Commission recently issued a risk alert warning investment advisers of common deficiencies related to their firms' ethics codes and the handling of material non-public information. According to Thomson Reuters Senior Regulatory Intelligence Expert Todd Ehert, the warning is a strong reminder that proper handling and safeguards of material non-public information (MNPI) is a core compliance responsibility for all advisers that should not be overlooked.
Recent enforcement actions have made it clear that Chief Compliance Officers are at risk of personal exposure if regulatory violations happen under their watch. The New York City Bar Association recently released a report calling on financial regulators including the SEC and FINRA to adopt a comprehensive and analytical framework for holding CCOs personally liable for violations.
For capital markets firms, managing risk and compliance is as essential as managing investments and operations. And reactively managing risk isn't enough. Firms need to take a proactive approach that requires both updated processes and technology plus access to data.
