Here’s what you missed from SteelEye in January 2024
There has been a number of noteworthy updates at SteelEye this month, including the release of SteelEye’s Annual Financial Services Fine Tracker. This comprehensive analysis covers financial penalties and enforcement actions issued by UK, US, European, and Asian regulators for compliance failures in 2023.
The month also brought notable regulatory developments, including the release of FINRA’s 2024 Regulatory Oversight Report, providing key insights for market participants looking to strengthen their compliance programs. The FCA also released Market Watch 76, highlighting concerns over the market manipulation practices known as ‘flying’ and ‘printing’.
SteelEye also released an insightful blog that explores the rules around maintaining, storing, and archiving books and records, emphasizing their importance for all financial institutions.
Additionally, SteelEye’s fine tracker was featured in a number of publications, including The Wall Street Journal, Corporate Compliance Insights, and Finance Magnates.
Blogs
Books and Records Compliance Requirements
Books and records are vital for both the compliance of individual firms and overall financial market integrity, as they ensure transparency, facilitate audits, and prevent financial misconduct. Regulators are increasingly prioritizing how financial professionals manage, store, and archive these records. This blog explores key regulatory requirements and provides brokers, banks, and investment firms with essential insights for ensuring compliance.
Press Releases
SteelEye’s Financial Services Fine Tracker 2023
SteelEye conducted an analysis of financial penalties issued by UK, US, European, and Asian regulators, creating a comprehensive overview of fines and enforcement actions related to compliance failures in the financial services sector for 2023. The number of enforcement actions issued to global financial institutions in 2023 reached staggering levels that have rarely been seen in the US, as the SEC and CFTC imposed a combined $9.2bn in penalties in the US in 2023.
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Regulatory Watch
FINRA Releases 2024 Regulatory Oversight Report
FINRA's 2024 Annual Regulatory Oversight Report provides key insights from recent regulatory activities, serving as a valuable resource for financial firms to enhance their compliance programs. Covering 26 topics, it addresses rules, compliance program considerations, enforcement action findings, and effective practices for firms to meet their obligations in 2024.
FCA Market Watch 76 – Flying and printing
Market Watch 76 released by the FCA highlights its concerns over two market manipulation practices commonly known as 'flying' and 'printing,' which have the potential to deceive clients and undermine market integrity.
SteelEye in the Press Highlights
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