Unapproved Communication Channels: Balancing ease of communication with regulatory expectations

The SEC and CFTC’s recent actions against Wall Street firms that tolerate the use of unapproved communications channels has put the industry on notice to rein in such practices amongst their employees.

The regulatory actions are not limited to the US; in the second half of 2021, the FCA in the UK began discussions with a wide range of banks to discuss their practices around the use of private messaging by staff.

Discover in our report below how firms can avoid future penalties by focusing on a rapid assessment of their overall e-communications framework, focusing on three foundational areas for improvement:

• Enhancing internal policies and procedures related to e-communications
• The implementation of new training and awareness activities for e-communications
• The improvement of e-communications monitoring tools