Quarterly Regulatory Update: Q1 2023

It’s only been a few months since the start of 2023, and a lot has happened within and adjacent to the financial services industry. The modernization of SEC 17a-4 is in full effect. Both the SEC and FINRA emphasized their focus on cybersecurity and digital communications, and new technologies like ChatGPT are creating plenty of compliance challenges.

In this regulatory update, we review:

• Major regulatory actions and fines against firms and individuals in the first quarter of 2023
• The realities of the regulatory enforcements — especially with off-channel digital communications
• What firms need to prioritize when planning, refining and executing their compliance strategy