Relay Recap by Global Relay
Global Relay
Leader in compliant communications archiving, messaging, supervision, information governance, and eDiscovery.
Welcome to Relay Recap, where we bring you the regulatory developments that have dominated the compliance landscape over the last month.
This month has highlighted how technological advancements, such as Artificial Intelligence (AI) are reshaping compliance infrastructures within financial services. Regulators across the globe are studying how to leverage AI and machine learning to improve data quality, track economic indicators, and strengthen supervisory efficiency. We published our annual Data Insights Report, which found that there has been a 400% increase in the number of firms capturing prompts and communications that employees have with ChatGPT. Integrating AI with the data capture and monitoring of communication channels such as social media, is allowing for better insights and risk mitigation. But as technology improves, regulatory expectation is becoming more stringent too.
Operational resilience has also emerged as a critical theme this month, with the Financial Conduct Authority publishing its “findings on operational resilience” with regard to the CrowdStrike outage. Firms are starting to take the necessary steps needed to mitigate the risk of disruptive events, but the FCA has set out critical areas where firms can improve.
Similarly, the Securities and Exchange Commission (SEC) has placed a great amount of significance on this issue within its 2025 examination priorities, as well as the importance of fostering a strong ‘culture of compliance’ to ensure success. For this to work, firms must get opt-in from all employees through the power of influence from senior executives who strive to implement effective policy and procedures to ensure professionalism, and drive awareness around the proper channels of communication.
The convergence of technology, regulation and cultural change is driving a new era of compliance as we enter 2025, and firms must innovate to meet and keep pace with the evolving expectations of regulators to safeguard data and guarantee compliant workflows.
Read below for our latest news and resources, giving you the information, you need for a successful, compliant communications strategy.
Global Relay Data Insights: Communication Capture Trends in 2024
Our new Data Insights Report, analyzes the data of over 12,000 regulated financial institutions and reveals significant trends in communication capture. The data shows a wealth of interesting findings, such as that 33% of firms are now capturing social media communications data - including the personal LinkedIn profiles of employees. Clearly, social media is an emerging compliance risk and gaining much traction. If your firm is reframing its compliance framework to adapt to the ever-evolving digital landscape, read our guide on the Four key steps to mitigate social media risk.
Regulatory Wrap Episode #47: Learning from the CrowdStrike Outage
Our Head of Content, Jennifer Clarke covers the various regulatory stances on operational resilience given the disruptive nature of the CrowdStrike outage earlier this year. With regulators such as the Financial Conduct Authority (FCA) studying and publishing material around building robust operational resilience foundations within financial services, firms must look to implement the right tools and tone to prevent outages. Read more on what the CrowdStrike teaches us about operational resilience here: https://tinyurl.com/y3kn7z43
Getting priorities straight - Key takeaways from the SEC’s 2025 Examination Priorities
Following on in its trend of increased transparency, the SEC has outlined its key examination priorities before 2025 commences. AI and operational resilience take center stage as the regulator notes the significance of machine learning and its impact on the financial space, as well as preventing disruption through effective policies, procedures and cybersecurity. For a detailed breakdown on the priorities read here: https://tinyurl.com/5n72tr7f
领英推荐
Is conduct and culture the next regulatory priority?
In our latest webinar, expert panellists, Binal T. and Vlada Gurvich , and Tahiyat S C. gather to discuss the importance of cultivating a ‘culture of compliance’ to prevent misconduct, both financial and non-financial. Tune in on December 5th to find out more: https://tinyurl.com/bdrtrnze
The Conduct Chronicles – “I Spy with my Little AI”
Emma Parry 's newest edition of The Conduct Chronicles explores how regulators and central banks are using AI and social media to their advantage. The European Central Bank and FCA are using social media to understand public sentiment, market behavior, and risks. While AI and machine learning enhances data quality, improves supervision, and creates innovates ways to track inflation perceptions through social media. Read more on how this new tech provides deeper insights to boost economic forecasting accuracy: https://tinyurl.com/had9eut3
U.S. regulatory enforcements against non-compliant electronic communications
Our latest infographic allows for a visual representation of the ever-evolving nature of U.S. enforcements around data retention and electronic communications. Spanning 2021-2024, U.S. regulatory enforcements underscore the importance of recordkeeping and protecting consumers from misleading advertisement. To learn more, click here: https://tinyurl.com/3z4y5dyu
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