Recap: 2018 FINRA Annual Conference

Congrats to FINRA for once again running a tremendous Annual Conference. Terrific to once again catch up with clients, prospects, partners, and colleagues from around the industry.  This year’s conference was a milestone for us, our first as a joined team of Smarsh + Actiance. It was great to hear the very positive feedback and […]

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Social Media and Regulation: Where Do We Go From Here?

Fascinating testimony by Facebook CEO Mark Zuckerberg before Congress this week, touching upon a variety of topics where social media and government potentially collide, and raising a number of interesting questions including: – Is Facebook too powerful? – Can Facebook (and other tech firms) be expected to regulate themselves? – What impact should social media […]

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Facebook, Cambridge Analytica and the Privacy of Your Data

You’ve just finished your 23rd GDPR article today and are now completely convinced that the world is not ready for the EU’s General Data Protection Regulation (GDPR). Having accepted that reality, you now return to your day job only to be welcomed by the latest data privacy saga: Facebook and Cambridge Analytica. While much will continue […]

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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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Actiance & Hootsuite Webinar Recap: What Social Communications Should I Capture and Retain?

Great discussion this last week with Amy McIlwain, Financial Industry Principal at Hootsuite. Thank you to those who joined us, for those that didn’t, you can find the link to the recording here. The webinar highlighted the power of our partnership – encompassing how financial services firms can use social media to deepen engagement with […]

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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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Social Media Triggers Ongoing Compliance Requirements

Before social media gained popularity, Registered Investment Advisers (“RIAs”) launched a website and often did little else to market their firms. In many instances, the website content remained stagnant for years. Each firm’s Chief Compliance Officer (“CCO”) was to preapprove all content posted and to review it periodically. As RIAs now rely more on communications […]

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Survey: Are We Moving Toward a Shared View of Information Risk?

Organizations today are faced with an unprecedented volume and variety of information risks that have enterprise-wide impact, including: Increased frequency of data breach carried out by advanced, targeted attacks Leaks of sensitive or high value information from departing employees Aggressive sanctions from regulators over the lack of supervisory compliance controls Business use of social and […]

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Regulatory Updates: Disciplinary Actions Against Firms and Individuals for Unauthorized Communication Channels

FINRA is increasing disciplinary actions against firms and individuals for failing to comply with recordkeeping and supervision rules. Last month, FINRA fined firms and individuals for using “unauthorized communication channels” including text messaging, IM, and personal emails. A brokerage firm was fined $290,000 for failing to establish a system of reasonable supervision, including adequate Written […]

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