Compliance Monitoring: Leveraging Online Tools to Ensure Compliance in Regulated Industries

Compliance Monitoring: Leveraging Online Tools to Ensure Compliance in Regulated Industries

Compliance departments are beginning to turn to website monitoring tools to help bolster their compliance monitoring efforts as it’s become increasingly difficult for these firms to remain compliant with industry regulations in recent years. Firms operating in highly regulated / legacy industries suddenly find themselves more vulnerable than ever to fines and penalties from regulators. Deeper and broader constraints in these regulated industries, coupled with the incredible rise of digital marketing and online messaging avenues, Compliance Departments are scrambling to implement processes and procedures to help limit their exposure. 

Agent & Affiliate Networks Can Compound Compliance Problems

The risk of being held […] Read more

The Challenge Facing Compliance Officers in the Financial Services Sector

The Challenge Facing Compliance Officers in the Financial Services Sector

Compliance is a major challenge for firms operating in highly regulated industries that rely on external networks of agents or affiliates to sell and/or promote their products. In wealth management, insurance, and lending industries, regulations stipulate that any “content” that is publicly accessible is considered to be advertising and as such, subject to strict compliance oversight. For example, US-based Financial Advisors are subject to a rule called FINRA 2210(b) which stipulates that: 

Retail communication consists of any written (including electronic) communication that is distributed or made available to more than 25 retail investors within any 30 calendar-day period. A retail investor […] Read more