RegTech Intelligence

Check your SYSC benchmarks

The Office of Compliance Inspections and Examinations (SEC, FINRA, NYSE) has released an assessment of 19 firms regarding their controls to prevent misuse of material, non-public information.

While not legally binding, this development is important because this is the first comprehensive statement in years regarding a regulatory view of a firms systems and controls for this type of information. Furthermore, this comes in an environment where fines against broker-dealers for failure in this respect have been on the increase. A key development is that broker-dealers now have at least an idea of the standards regulators expect in their inspections.

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