ComplyLens Limited

🚨 Recordkeeping Failures Lead to Significant Fines for 26 Firms 🚨 Last week, the SEC and CFTC issued substantial fines totalling $392.75 million to over two dozen financial institutions for failing to comply with recordkeeping requirements. These penalties are a stark reminder of the importance of maintaining robust compliance practices. At ComplyLens, we believe that proactive Risk Assessment is crucial in mitigating such risks and preventing regulatory actions. A well-structured Risk Assessment framework not only helps identify potential vulnerabilities but also ensures that effective controls are in place to manage them. 🔍 Read more about this recent enforcement action and how a robust Risk Assessment can protect your firm from similar penalties: https://lnkd.in/erSyG6_M #RiskManagement #Compliance #SEC #CFTC #RegulatoryCompliance #Recordkeeping #FinancialServices

Don't miss it! Our highly anticipated webinar featuring Ankur Mehta from ComplyLens Limited is happening soon! Join us for an in-depth discussion on crucial compliance surveillance topics, including: ✅The importance of surveillance risk assessment ✅Common issues during surveillance system implementations and how to overcome them ✅Implementing effective governance and data assurance controls ✅Alert effectiveness checks and calibration ✅Emerging trends and practical industry use cases Register right here! https://hubs.ly/Q02CCrYd0 #Compliance #ComplianceTechnology #eCommsCompliance #eCommsMonitoring #eCommsSurveillance #eCommsArchive #ConductRisk #EmployeeCompliance

Effective surveillance plays a crucial role in maintaining regulatory compliance and safeguarding the firm from the effects of illicit employee behavior that leads to market abuse and market manipulation. Does your firm have sufficient controls in place? Join us, along with Ankur Mehta from ComplyLens Limited on June 25th at 10 AM EDT / 3PM BST for an interactive session providing insight on maximizing the effectiveness of your surveillance controls. Secure your spot now by registering here: https://hubs.ly/Q02yhZXy0 #Compliance #ComplianceTechnology #eCommsCompliance #eCommsMonitoring #eCommsSurveillance #eCommsArchive #ConductRisk #EmployeeCompliance

** REMIT II Regulation and Energy Market Surveillance ** 📅 Last week the EU Council adopted the revision of the EU REMIT II regulation, as part of the reform of the European electricity market. Its now a step closer to having its timelines set and the regulation taking effect. The EU's REMIT (Regulation on Energy Market Integrity and Transparency) framework is specifically designed to prevent market abuse and enhance transparency in wholesale energy markets, covering electricity and natural gas products. The introduction of REMIT 2 brings forth updates and clarifications to further strengthen the surveillance of these markets and ensure their integrity. What REMIT II means for Surveillance: ➡ Broader Scope: Now covering energy products that are also financial instruments. ➡ Enhanced Surveillance Tools: Emphasises the need for enhanced monitoring capabilities using sophisticated technology. ➡ Clearer Definitions of Market Abuse: More precise definitions of what constitutes market manipulation and insider trading within the energy sector, helping firms better understand their compliance obligations. ➡ Algo trading in wholesale energy products is set to come under greater scrutiny with REMIT II. This will be particularly challenging for firms required to monitor highly complex short term power markets in parallel with the challenges brought by Algo trading. ➡ Market Participant Accountability: Enhanced accountability measures for market participants, including the requirement to keep detailed records of all transactions and orders for a specified period. ➡ Tougher Penalties and Cross-Border Enforcement: Strengthens penalties for non-compliance and fosters EU-wide cooperation against market abuse. 📞 Get in touch - At ComplyLens Limited, we specialise in helping financial institutions navigate the complexities of implementing Trade and Communication surveillance controls. We can support you in conducting Surveillance Risk Assessments, defining Technology Strategy as well as implement Surveillance Systems. #REMIT #EnergyTrading #MarketAbuse #Surveillance #ComplyLens

🔔 IMPORTANT 🔔 The FCA's latest Market Watch 77 sheds light on the rising insider dealing risks in equity spread bets and CFDs trading. A must-read for all executing firms. This serves as a critical reminder for firms to rigorously review and enhance their surveillance controls. These products allow investors to speculate on the future price movements of underlying assets, such as shares, and hence are ideal for perpetrators looking to benefit from inside information. ✒ Clearly the regulator is seeing heightened criminal activity in this space; Firms must treat this as an urgent call to review their Insider Dealing surveillance controls. ✒ It's vital to go beyond default system alerts — customise and rigorously test your surveillance systems to ensure they effectively capture nuanced insider dealing activities. ✒ Insider Dealing surveillance models can be tricky to calibrate to your firm's unique risk profile, with various combinations of thresholds and insider/benchmark periods, as well as reliance on market data. ✒ Adopting advanced measures such as Account and Trader Profiling and Cross-Product surveillance is key. 📞 Need expert eyes on your surveillance controls? Contact us for an in-depth review and testing with sophisticated synthetic data scenarios. Ensure your defenses against insider dealing are as robust as they can be. Reach out now. https://lnkd.in/dXSx5wrw #FCA #MarketWatch #MarketIntegrity #Compliance #InsiderDealing  #CFD #SpreadBets #brokers #MarketMaker #DMA #ComplyLens