Recorded Webinar: New solutions to the old problems of compliance with communications surveillance regulation6 December 2022
Communications surveillance is an integral element of trading at financial institutions, and its functions are clearly set out in jurisdictional regulations – to capture, record and retain all communications. Essentially, all business related communications must be recorded whatever the underlying mechanism – be it a work phone, personal mobile phone, text, video and so on – and regulators must be able to access the records.
These are not new requirements and surveillance systems have been deployed in trading organisations for many years. Yet, eye-watering fines continue to be levied against financial firms for non-compliance. The problem is often related to the use of personal non-recorded devices, a scenario exacerbated by the Covid pandemic and a move to work from home, and sometimes a lack of internal control – but there are solutions.
This webinar will review regulatory requirements for communications surveillance, identify where and why breaches occur, and discuss best practice approaches to alert management and compliance. It will also review emerging solutions that can deliver faster, more efficient and complete investigations by enriching the data of trade surveillance alerts with comms data and vice versa.
Listen to the webinar to find out more about:
- Regulatory requirements of communications surveillance
- Where and why most regulatory breaches occur
- Best practice approaches to managing alerts
- Emerging technology solutions and services
- Penalties of getting surveillance wrong
- Benefits of getting it right
Please note this event is being run under Chatham House Rules and media are excluded from attending
Moderator: Mike O’Hara Contributing Editor
More about our speakers:
Global Head of Surveillance
BNY Mellon Markets
Darren joined BNY Mellon at the end of 2019 and runs the global 1LOD surveillance team. Before joining BNY Mellon, Darren worked at the Financial Conduct Authority as a Technical Specialist in the Market Surveillance Team, part of the Market Oversight and Enforcement Directorate. At the FCA, Darren was able to use his extensive trading knowledge and experience for the detection of market abuse in financial markets through the creation of in house alerts. In addition, Darren co-authored several publications, hosted forums for UK based banks and represented the FCA at international conferences.
Darren began his career on the LIFFE floor and worked as a market maker in equity and index derivatives. After leaving Barclays Capital in 1999, Darren worked at a UK hedge fund trading UK and Dutch securities until 2007 when he joined DRW Investments. At DRW, Darren helped to set up one of the largest flow trading desks covering UK and German equity and index derivatives. Darren also ran automated trading books at Liquid Trading, Blueprint Capital and Spinaris Capital covering FX and exchange traded commodity, fixed income and index products before moving in to surveillance.
Director, Global Markets Compliance Advisory
Paul Cottee is a Director in the Product group at NICE. Paul worked in FICC front-office roles before becoming a compliance officer with a major UK asset manager, then regional head of surveillance for a major investment bank. He has been in the vendor space for over 8 years. He has worked in Sydney, London, Singapore and New York.
Interested in hosting your own webinar? Get in touch