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Compliance & Conversation: The culture club
Leading figures from financial services discussed some of the pressing issues of the day including: conduct and culture, AI, recordkeeping and surveillance.
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Podcast: Dan Nikci on compliance and innovation in alternative investments
Dan Nikci, Founder and Managing Partner of Applied Fund Solutions, discusses his work with the alternative investment community.
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Danske Bank fined NKr 50m for market manipulation
According to the Norwegian regulator a reference swap rate was intentionally driven higher at the time of pricing in order to produce higher trading profits.
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SEC whips out final orders for violations grounded in supervisory, oversight lapses
Final settlement orders announced last week include those against firms for infractions often based in compliance program lapses.
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SEC still live and kicking as 12 firms fined combined $63m+ in recordkeeping failure charges
Each firm used unapproved communication methods, or off-channel communications, to send and receive messages that were required to be maintained under the securities laws, the SEC said.
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McKinsey OxyContin settlement illustrates need for robust comms surveillance and archiving
The matter-of-fact narrative is scathing of the moral and ethical void at Purdue as well as the behavior at the consulting firm.
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SEC modernizes submission of some forms and filings
The rule requires broker-dealers, securities-based swap dealers, exchanges, clearing agencies, and other SROs to submit forms in certain electronic formats.
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Bosses struggle to police workers’ use of AI
Staff are adopting large language models faster than companies can issue guidelines on how to do so.