2023 was an eventful year for digital communications governance. Hundreds of millions in additional fines were imposed in the U.S., with the regulatory focus expanding from banks to include broker-dealers, investment advisers and credit rating agencies. The U.S. wasn’t alone with the UK regulator sanctioning a bank and its energy regulator fining a firm for failing to capture trading communications.
Last year’s crystal ball was remarkably accurate with unified communication and collaboration (UCC) tools cementing their position in the fabric of the modern workplace, communications compliance becoming a board level priority and the recordkeeping fines imposed expanding beyond U.S. banks.
For 2024, Theta Lake has again looked into its crystal ball, and considered its exclusive industry and regulatory insights, to predict what firms can expect in the coming year: