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Easily Gain Compliance With Financial Messaging RegulationsOctober 16th, 2017 6:04 pm
Regulated financial services companies – including Broker-Dealers, Hedge Funds, and Investment Advisors – are required by law to archive, retain and supervise business communications. Regulations from Financial Authorities such as the Securities Exchange Commission (SEC 17a-4), Financial Industry Regulatory Authority (FINRA 10-06), and the Commodity Futures Trading Commission (CFTC 1.31) lay out specific mandates around communications that must be retained, including those taking place over social media, mobile devices, and financial messaging platforms (e.g. Instant Bloomberg). Failure to comply with these rules can lead to fines and has resulted in a number of high profile enforcement cases where Financial Services firms were penalized for failure to adhere to messaging compliance rules.
Benefits of Merge1 for Financial Services Firms
– Avoid fines, penalties and other enforcement actions by regulatory bodies such as the SEC and FINRA
– Mitigate risk involving internal investigations, external audits and lawsuits
– Reduce compliance related costs and recurring fees