Communications Surveillance- How Trade Comms Suite helps Capital Markets firms

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Fonetic Team
Monday, 29 July 2019 / Published in fonetic, trade communications surveillance
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The 5 levels of communications surveillance in energy trading

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Fonetic Team
Friday, 26 July 2019 / Published in trade communications surveillance, energy trading
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How to approach communications surveillance in energy trading? In this blog we talk about the 5 levels of monitoring and what the best approach is for the energy and commodities sector.

How Trade Reconstruction solves SEC Reg BI (Best Interest) requirements?

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Fonetic Team
Tuesday, 23 July 2019 / Published in regulatory compliance, Trade Reconstruction
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The new disclosure rules released by the SEC in June create additional requirements for broker dealers and investment advisers to record and retain trading related communications with clients. Financial services firms must be able to easily demonstrate to the US Regulator that they made the proper disclosures to customers regarding advice on trading strategies and recommendations.

To quote the SEC Chairman Jay Clayton, he stated his intention is that "regardless of whether the retail customer chooses a broker-dealer or an investment adviser, the retail customer will receive recommendations (from a broker-dealer) or advice (from an investment adviser) that are in the best interest of the retail customer, and that do not place the financial professional's interests ahead of the interests of the retail customer."  

There’s a need to protect firms from the reputational risk this may cause and the regulatory sanction by alerting when best practice isn’t being observed.

How MiFID II affects communications monitoring

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Fonetic Team
Monday, 15 July 2019 / Published in MiFID II, Trading
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MiFID II was launched in January 2018 to ensure fairer, safer and more efficient markets. It’s goal, to increase transparency for all its participants. That’s Mifid II in a nutshell. But, as the regulation continues through its second year, and with the additional pressure of SMR compliance and GDPR leaving the sector in a whirlwind of reform, are firms keeping pace?

It seems that brokers have recently come under the firing line, both in the UK and US. In their recent CEO letter, the FCA has highlighted some key concerns which still haven’t been dealt with, particularly the current renumeration model being described as “poor and outdated” and a “root cause of misconduct risk in this sector”.

In this blog we will review some of the MiFID requirements and how effective communications monitoring can drive compliance within Financial Institutions and large to medium IDBs or smaller broker firms. 


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Fonetic Joins BBVA Open Marketplace for FinTechs

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Fonetic Team
Friday, 12 July 2019 / Published in press, fonetic, Press release
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Fonetic, leading provider of communications surveillance and voice technology software is now part of a new global network of FinTech providers.

BBVA launched the new service with the aim of connecting the bank’s business units to solve challenges facing the sector by working with technology providers across the BBVA network.

The Senior Managers and Certifications Regime: Quick Guide for Buy-Side firms

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Fonetic Team
Thursday, 11 July 2019 / Published in SMR
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MiFID II communications complianceWith the new SM&CR extending to all FCA regulated firms this December, all financial institutions are bracing themselves and taking action (or at least, they should be). In the words of our Product Advisory Board Chairman Nick Child, “Senior Managers must demonstrate how they monitor and control those actions or inactions and ensure personnel act with integrity, skill and due care. Failure to take those steps would be foolish and dangerous.

The latest changes in the regulatory landscape will see the Senior Managers & Certification Regime come into effect for all 47,000 FCA regulated firms. This includes many buy-side firms, hedge funds and brokerage businesses. Another point causing nervous ripples in the sector is the first enforcements of the New Regime. No one likes to be the first the Regulator makes an example of, as they tend to be the strictest and hence the repercussions more severe.

SMR