Morgan Stanley’s £5.41m ($6.89m) fine for failing to monitor communications is another warning that policies and training don’t always equate to “reasonable steps” in ensuring compliance. Different regulators have different requirements when it comes to recording and monitoring communications, so it’s worth revisiting all your processes to make
Comms monitoring takes centre stage with global regulators
If your firm is subject to one or multiple regimes, you should ensure your controls and approach are aligned with the relevant regulators’ expectations.
Asia, Electronic communications, FCA Market Watch, FCA Market Watch 66, Hong Kong, IAA 1940, IAA 1940 Rule 204, Off-channel communications, Ofgem, Recordkeeping, REMIT, REMIT Art 8, SEA 1934, SEA 1934 Rule 17, Singapore, SYSC, SYSC 10A, Trade Surveillance Practice Guide Principle 2.13, UK, US Content, WhatsApp