Recordkeeping

Firms deploying AI in compliance are preserving descriptions of their systems; a regulator wants a record of one decision, on one file, on one day.

SEC3 Compliance is monitoring the SEC’s proposal to rescind Advisers Act Rule 206(4)-5, commonly known as the “pay-to-play” rule. If adopted, the proposal would eliminate the rule’s prescriptive political contribution restrictions and give investment advisers greater flexibility to address pay-to-play risks through their broader compliance programs.

Voice spot inspection by AMF highlights deficiencies and room for improvement at asset management firms.

Could directors be exposing themselves to liability in legal disputes?

Regulated firms have just over six months to become compliant and update their systems and processes: compliance tips and best practice.

Kadas spoke of AI’s ability to identify more relevant communications, and further investigations that someone at the bank would need to perform.

CFTC found trader also made false or misleading statements about removing texts and messages relevant and material to the regulator’s investigation.

The Commission has proposed updates to registered transfer agent regulations, seeking to align decades-old rules with electronic recordkeeping and blockchain-based securities activity.