RegTech IntelligenceUS Regulators fired a $555m shot across Wall Street’s bow last week by holding them accountable for their employees’ pervasive use of unauthorized communication methods, like private texts and in some cases WhatsApp. This is the second batch of ‘market moving’ fines in the US within a year , yet no other country has followed
Hack-to-trade schemes and confidential information dealing on the dark web, combined with regulatory warnings about firms’ management of material non-public information (MNPI), are raising further concerns about markets’ ability to keep a lid on insider dealing and other forms of manipulation. The number of cases brought against individuals using stolen data or MNPI to trade,
Technology, data and infrastructure provision to banks now puts 3rd parties on the critical path for systemic oversight. Knowing your supply chain just became a lot more critical and complicated. There is an opportunity to take the pain away with a more joined up approach that requires senior engagement, trust and ‘safe space’