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Thomson Reuters: Digital communications compliance – Predictions for another busy year in 2024

By January 23, 2024No Comments
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Compliance changes very quickly, especially in the digital arena, and regulations are moving as quickly as they can to follow the technology wherever it may lead

This past year was an eventful one for digital communications governance. Hundreds of millions of dollars in additional fines were imposed by regulators and law enforcement in the United States, with the focus expanding from banks to include broker-dealers, investment advisers, and credit rating agencies.

And the US wasn’t alone in targeting this area, with the United Kingdom’s Prudential Regulation Authority sanctioning a bank and Ofgem (the UK’s energy regulator) fining a firm for failing to capture wholesale energy trading communications.

Last year’s crystal ball was remarkably accurate with unified communication and collaboration (UCC) tools cementing their position into the bedrock of the modern workplace, communications compliance becoming a board-level priority, and the recordkeeping fines imposed by regulators expanding beyond US banks.


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