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

1LoD Buy-Side Risk & Control Summit round-up: SMR hotting up debate on compliance

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Fonetic Team
Thursday, 27 June 2019 / Published in compliance, SMR, event
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Marking another successful partnership yet again with the 1LoD organisers, Fonetic was in London this week for the 1LoD Buy-Side Summit. The event drew in over 150 risk & control practitioners, regulators, consultants and RegTech leaders for a day of keynote sessions, interactive debates and roundtables.

Thoughts on SMR: A view from a grizzled ex-trader

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Fonetic Team
Tuesday, 25 June 2019 / Published in fonetic, voice surveillance, SMR
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The biggest changes in the financial sector have all come in the last 11 years and have been accelerated by the changes in worldwide regulation that resulted after the financial crisis in 2008. Fast-forward to 2019 and a lot has changed. Sandy Broderick, Product Advisory Board member reflects on his experiences in the industry. 

SMR Compliance: 6 must-haves for your v-comms and eComms surveillance

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In this post, you'll learn how to find the right software platform for your compliance and surveillance staff to help you become and remain compliant with SMR requirements.

Given the events of the financial industry over the past 10 years, it's no wonder that both regulators and financial organisations are trying to do their best to uncover, prevent and stop misconduct and fraud from taking place.

When it comes to institutions, they have invested money and effort in Regtech software to meet increased regulatory demand and oversight. For their part, governments have created new entities and regulators have issued a heap of new legal measures to address the issues.