Regulatory Update: Former Equifax CIO Charged with Insider Trading – Texting at the Center of the Charges

The text message from the former Equifax CIO was a red flag: “Sounds bad. We may be the one breached.” Federal prosecutors charged a former Equifax chief information officer (CIO) with insider trading, for selling nearly $1 million in company stock before the public disclosure of the Equifax data breach. The former CIO of a […]

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Regulatory Updates: Enforcement is Heating Up Across the Regulatory Landscape

Last month, the SEC and FINRA fined several firms for failure to establish reasonably designed supervision programs to ensure compliance with applicable securities laws and regulations. Individuals were also fined for failing to comply with securities laws and regulations pertaining to electronic communications. The SEC penalized a bank $3.7 million for failing to reasonably supervise […]

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SEC Reveals 2018 OCIE Exam Priorities

The Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) recently published its 2018 examination priorities letter. The priorities reflect certain practices and products the examiners believe may present potentially heightened risk to investors or the integrity of the U.S. capital markets. This year’s examination priorities are organized around five themes: (1) […]

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Noteworthy Takeaways from FINRA’s 2018 Priorities Letter

FINRA marked the new year by releasing the annual Regulatory and Examination Priorities Letter, identifying areas the regulator will focus on in 2018. While the letter includes new topics and ongoing areas of focus, supervision is a common theme emphasized throughout the 2018 letter. A nice feature to this year’s Letter is a list of […]

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Regulatory Updates: FINRA Fines a Brokerage Firm $2 Million for Email Review Violations, and more Electronic Communication Sanctions in 2018

It’s a new year, and there’s no sign that regulators will be slowing down their review and enforcement actions. Now more than ever, regulators are penalizing firms for non-compliance of retention and supervision obligations. “Firms have a clear obligation to reasonably supervise electronic communications, which includes periodically re-evaluating the effectiveness of existing procedures” said Susan […]

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Actiance Talks Compliance in “Bank On It” Podcast

Listen to the latest episode of John Siracusa’s, “Bank On It Show” podcast and hear Actiance CMO, Cynthia Crossland, and Actiance Director of Information Governance, Robert Cruz, discuss how a comprehensive compliance solution can help banking institutions manage the compliant use of social media. The “Bank On It” podcast is available on iTunes and iHeartRadio. You can listen to it […]

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Clients Want Their Financial Advisors on Social Media
Financial Planning Association LinkedIn 2015 Survey

A recent study conducted by the Financial Planning Association (FPA), in conjunction with LinkedIn, found that while fewer than 5 percent of financial services clients used professional or social networks to find their current adviser, 21 percent say professional and social networks will be important going forward. As you might expect, that number doubles for […]

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Banks and Social Media Compliance

Like the other regulated industries, retail banks are interested in using social media to provide a personal touch to their customers but banks and social media are a combination that should be planned and implemented carefully.  In response to the banking industry’s requests for guidance on the appropriate use of this new media, Federal Financial Institutions […]

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FINRA And The Future Of Social Media In Financial Services

The future of social media in the financial services industry is “applying 20th Century rules to 21st Century technology,” says Joseph Price, Senior Vice President and Counsel, FINRA Corporate Financing and Advertising Regulation. New technologies are blurring the difference between the written and the spoken word, two communications that are currently treated very differently by […]

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7 Lessons For Financial Advisors’ Social Media Use

Brian Tietje, formerly of LinkedIn and now Vice President Sales RockTech recently moderated a panel, “Training Employees To Use Social The Right Way,” at Social Media and Compliance (SMAC) conference organized by Financial Technologies Forum. Panelists included Amy Watson, Vice President, Goldman Sachs, Corina Roy, Assistant Vice President, Digital Experience at MassMutual Financial Group, and […]

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