Results from the 2016 Electronic Communications Compliance Survey show that current supervision practices aren’t sufficiently addressing the ongoing evolution of communication in the financial services industry, and firms have an immediate need to rethink their traditional approach to the retention and oversight of electronic communications amid a demanding regulatory environment.
While many acknowledge the risk, large gaps remain in the supervision of newer communication platforms like social media and instant messaging. Many firms are also concerned about overburdening their compliance teams with more work, since status quo compliance processes don’t scale well with the volume and variety of today’s electronic communications.
Download the full survey report for more information on:
- The top 5 concerns related to electronic communications compliance
- Which communications channel represents the most risk for firms
- The most prevalent gaps in supervision facing financial firms
- Steps firms must take now to protect against undetected fraud, errors, and potential regulatory enforcement penalties
Want to compare against last year’s survey report? You can find it here.