Explore the transformative updates to data security regulations in the non-banking financial sector, as directed by the Federal Trade Commission (FTC), in our latest blog post. This insightful analysis delves into the FTC's enforcement of new rules under the Gramm-Leach Bliley Act (GLBA), starting May 2024. These rules mandate prompt reporting of security breaches affecting consumer data, marking a significant shift in accountability and consumer protection within the industry. Our post covers the expanded role of the FTC, the evolution of the GLBA's Safeguards Rule, and the implications for non-banking financial institutions.
Read MoreDiscover the U.S. Securities and Exchange Commission's (SEC) 2024 Examination Priorities report in our latest blog post. This comprehensive analysis delves into the SEC's targeted areas for overseeing registered investment advisers (RIAs), broker-dealers (BDs), and other market entities. The post highlights the SEC's emphasis on emerging and core risk areas, including cybersecurity, crypto assets, and compliance with evolving regulations. Learn about the heightened focus on fiduciary duties, the rigor of compliance programs, Regulation Best Interest for broker-dealers, and the importance of information security and operational resiliency. Understand the implications of crypto assets, emerging financial technologies, and anti-money laundering measures in the financial sector. This blog post is essential reading for registered firms and market participants to navigate the SEC's priorities, adapt to regulatory changes, and uphold investor protection and market integrity.
Read MoreExplore key insights from the RegTech Summit in New York City, focusing on the intersection of Generative AI and regulatory compliance in the financial sector. Dive into discussions about the potential of AI in automating compliance controls and the challenges in integrating these technologies into legacy systems. Read our comprehensive blog post for a deep dive into how financial institutions are cautiously yet optimistically embracing AI for a more efficient regulatory future.
Read MoreDive into the critical issue of off-channel communications in the financial sector. Focused on the recent SEC actions against financial firms for inadequate record-keeping and the use of apps like WhatsApp, we delve into the implications for firms, especially those in South Florida dealing with Latin American clients. Understand the risks, the importance of compliance, and innovative strategies like trade reconstructions to ensure regulatory adherence. Ideal for financial professionals, compliance officers, and anyone interested in financial regulations and fintech.
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