The Biggest Compliance Issues Facing Financial Institutions Today
by Andy Kay
The biggest area where compliance is needed is absolutely on an individual level.
ince the financial crisis, there has been a much closer look into the way financial institutions work, and the FCA has cracked down on individuals and companies throughout the country.
The increased numbers of rules and regulations that have emerged since this occurred are staggering.
Keeping data secure and safe is an absolute key part of using any form of technology, and the relatively new form of using social media is even more important.
In collaborating with tech divisions in the company and ensuring the compliance officer is up to date with the rules and regulations that are flying out of the FCA offices, the risks associated with this are lessened.
"The direct result of these new regulations is that compliance professionals are expected to use a higher level of technology to fight the compliance regulations that are being released."
TalenTeam is a company that is working towards training employees to be able to spot the best practice of compliance issues, especially using newer technologies to ease the burdens. They will be hosting a roundtable discussion that will explore the approach that makes for the most successful compliance practices and how using technology can make this much easier.