When is a rocket ship not a rocket ship? When it is cited in a legal case alleging a firm and its control person violated U.S. securities laws by offering for sale to the public certain non-fungible tokens (“NFTs”) without filing…
When It Comes To Modern Communications, Data Protection Is Now More Important Than Ever
Data protection is now more important than ever. Given the new ways of working and communicating there are increasing amounts of personally identifiable information (PII) and personal health information (PHI) data shared across communication platforms and firms are expected to be…
Regulatory Perspectives by Theta Lake: FINRA’s continuing focus on communications compliance
The last quarter of 2022 saw FINRA continue its focus on communications compliance. Four brokers and a compliance officer faced disciplinary action for a range of breaches of their approach to supervision and an inability to retrieve phone records. For the…
Regulatory Perspectives From Theta Lake: UK market abuse £5m fine, lessons for communications compliance
UK regulator fines a trio of brokers almost £5m for failing to have appropriate communications compliance processes in place to fulfil market abuse obligations. At a Glance The UK Financial Conduct Authority (FCA) has fined three inter-dealer brokers £4,775,200 for failing…
Theta Lake’s Predictions 2023
Theta Lake has taken a look in its crystal ball to consider what is likely to be a priority for firms in 2023. What is crystal clear is that now, more than ever, organizations need a modern approach to compliance and…