Tag: regulatory compliance

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Daily Compliance News

Daily Compliance News: November 8, 2024 – The Rewriting How Business is Done Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

  • Canada shuts down TikTok. (NYT)
  • US backs Argentina in fight of YPF. (FT)
  • FinTechs need to be more proactive around regulatory compliance. (American Banker)
  • Will the Trump Admin rewrite how the US does business?  (WSJ)

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids, on Amazon.com.

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Innovation in Compliance

Managing Compliance Complexity with Mac Bartine


 
Mac Bartine is the CEO of SmartRIA, a market-leading compliance software platform. Tom Fox welcomes him to this week’s show to talk about his company’s services and contributions to the compliance sector, what SmartRIA offers clients in terms of cybersecurity, and the future of technology solutions.  
 

 
The Minimum Viable Product
The Minimum Viable Product (MVP) is the first part of the startup process for platforms. It is recognizing the problems within your platforms and also believing that you can solve them. Mac explains to Tom that the problem SmartRIA solution identified in terms of the MVP is the compliance obligations. So many individuals are not experienced in managing compliance in their given industries, and so need a source of structure that understands where they are. SmartRIA offers them that, as well as the tools and frameworks needed. 
 
Vendor Due Diligence & Data Governance
Vendor due diligence and vendor management are key to managing cybersecurity risk. “You have to understand who you’re working with and what precautions they’re taking as a business to protect you from cyber risk,” Mac tells Tom. Having access to the proper documentation that reflects this is also important. SmartRIA has a plethora of different policies and procedures to protect clients’ data and takes the lists of vendors their clients have and itemizes each risk. Data governance falls under the same bracket as due diligence, that is, who has access to the vendors and what devices they use to access the data from those vendors.
 
SmartRIA as an SEC Solution
The solutions that you use for compliance obligations have to be done in a way that documents everything as it happens. “If it isn’t documented, it didn’t happen,” Mac says. Internal auditors aren’t in the position of giving the benefit of the doubt because they have no evidence of due diligence. SmartRIA has the tools to help its clients through this by way of PDF files, workflows, and documents. 
 
To The Future
Tom asks Mac what the future will be like for technology solutions. Regulations in every industry are going to increase. “Across every industry, there is an increasing need for cybersecurity-related evidence, and tracking of what’s happening in that space,” Mac says. Data governance and vendor due diligence are big parts of that, but compliance management is going to also become more important.
 
Resources
Mac Bartine | LinkedIn | Twitter 
SmartRIA
 

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Coffee and Regs

Trends in Transaction Reporting in 2022

Trends in Transaction Reporting in 2022

In this episode, CSS’s Transaction Reporting product team of Alexis Wiazmitinoff and Nicklas Nilsson make predictions on trends in transaction reporting in 2022 – from updates to SFTR to preparation for EMIR REFIT.
 

 

About Our Guest Speakers:


Alexis Wiazmitinoff is a Product Leader at CSS, responsible for leading the Global Transaction Reporting (GTR) solution. He is responsible for setting the GTR product roadmap and strategy. He guides the GTR product team during Sales/Pre-Sales engagements, product design/ delivery, thought leadership and takes part in client events. Alexis has 10 years of FinTech experience and a strong background working with traders, portfolio managers and front-to-back office personnel as part of core banking transformation projects on the continent and in the UK. Prior to joining CSS, Alexis product managed London Stock Exchange Group’s EMIR Trade Repository.”
 

 

 

 
Nicklas Nilsson is a Regulatory Specialist at CSS concentrating on global transaction reporting, including SFTR, MiFIR and EMIR. Nicklas is currently in a cross-functional role covering the regulations from analysis to implementation. He has eight years of experience working in the finance industry, including operational experience in fund reporting and regulatory implementation. Prior to joining CSS, Nicklas held positions at Swedbank, SEB and Wahlstedt Sageryd.

 

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Coffee and Regs

The Perfect Storm – PRIIPs and SFDR in 2022

The Perfect Storm – PRIIPs and SFDR in 2022

In this episode, CSS’s Chief Product Officer Ronan Brennan makes predictions for PRIIPs and how the regulatory landscape in 2022 with PRIIPs and SFDR is reminiscent of 2018 with the implementation of PRIIPs and MiFID II.
 

 

About Our Guest Speakers:


Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.
 

 
Natalie Silverman serves as CSS’s Chief Marketing Officer. A leading FinTech specialist, Natalie has over 18 years of go-to-market and strategic expertise in financial services, SaaS, media and news. Most recently she has helped to build innovation labs across startups and enterprises.

 

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Coffee and Regs

What’s Next for Cybersecurity in 2022?

Digital Assets: Trading & Compliance for Cryptocurrency

In this episode, Director of Registered Investment Company Services, Allison Fraser and Director of Broker-Dealer Services & Private Funds, John Gentile discuss the latest on digital assets and cryptocurrency. Are they considered securities, what does the SEC’s risk alert mean for digital assets, and how should investment managers be thinking about cryptocurrency trading and compliance?

 

 

About Our Guest Speakers:


 
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
 
 

 
Mike Farrell is a Certified Information Systems Auditor (CISA®) and Certified Information Security Manager (CISM®), and Cybersecurity Consultant at CSS. He analyzes data and conducts cybersecurity risk assessments, policy gap analyses, vulnerability scanning and social engineering testing. His Information technology experience includes network installations and management, hardware and software configuration, and troubleshooting.
Categories
Coffee and Regs

Special Episode with the Deputy Commissioner, Securities Division of the Vermont Dept. of Financial Regulation

Special Episode with the Deputy Commissioner, Securities Division of the Vermont Dept. of Financial Regulation

In this special episode, CSS’s Director of Retail Wealth Manager Services Korrine Kohm and William R. Carrigan, Deputy Commissioner, Securities Division of the Vermont Department of Financial Regulation discuss the latest news for registered investment advisers, including what will be required in 2022 surrounding continuing education requirements, the implementation of the new Marketing Rule and what’s next for Form CRS.
 

 

About Our Guest Speakers:

Korrine Kohm is CSS’s Director of Retail Wealth Manager Services. Prior to CSS, Korrine was the Chief Compliance Officer and Head of Operations at Estabrook Capital Management where she was responsible for all compliance functions of this SEC-registered, $2.1B investment advisory firm. Korrine began her regulatory career while working at Allied Irish Bank (NY) in the Operations Department where she was a key member of AIB’s Compliance Committee, responsible for ensuring compliance with Federal and State regulations. An active member of the National Society of Compliance Professionals for over 10 years, Korrine earned her Investment Adviser Certified Compliance Professional (IACCPTM) designation in 2006, is a member of the Association of Certified Fraud Examiners, and obtained her Certified Fraud Examiner designation. In addition to her experience in compliance and banking, Korrine began the 16-week intensive training course in Quantico, Virginia, to become a Special Agent with the Federal Bureau of Investigation. She has particular experience in crafting customized policies and procedures, developing and implementing compliance programs, conducting on-site compliance reviews, acquisition due diligence reviews, risk assessments and mock SEC examinations. She routinely councils clients on various regulatory matters, including SEC registration issues, social media and advertising, policies related to diminished financial capacity, disclosures and the annual review process.
 

William R. Carrigan was appointed Deputy Commissioner of the Securities Division in July 2016. He has worked at DFR since 2007 serving as Director of Examinations and Enforcement and Investor Education Coordinator. A Certified Fraud Examiner, he worked closely with the FBI and IRS to expose the $28 million Mac Parker Ponzi scheme, which involved hundreds of investors, and he was a member of the team that investigated the recent Jay Peak EB-5 matter that resulted in federal and civil lawsuits. Carrigan also spearheaded the inquiry that led to the recent $5.9 million settlement with Raymond James and Associates. He has 20 years of experience in the securities industry and held various positions prior to joining the division. He holds a bachelor’s degree in business management from Johnson State College and a master’s degree in forensic studies from Stevenson University in Maryland. He is a member of the Association of Certified Fraud Examiners and the North American Securities Administrators Association.
 
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Coffee and Regs

PRIIPs Delay, But Not Implementation Delays

PRIIPs Delay, But Not Implementation Delays

In this episode, CSS’s SVP of Business Development Ashley Smith joins Chief Product Officer Ronan Brennan to discuss the latest on the PRIIPs RTS, UK/EU divergence, data management complexities of the UCITS to PRIIPs transition and operational best practices to implement now.

 

About Our Guest Speakers:


Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.

 
 

 
Ashley Smith is a sales and business development professional with 30 years of experience in the financial services sector. Ashley started his career with the Financial Times and has led sales, marketing and business development teams across leading solution providers in data management, market data, risk analytics, collateral management and regulatory compliance.
 
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Coffee and Regs

CCOs & ESG – Preparing Now for What’s Next

CCOs & ESG – Preparing Now for What’s Next

In this episode, CSS’s team of CCOs Matt Calabro and Victoria Olson discuss how CCOs can prepare now for what’s to come with ESG – from policies and procedures to marketing materials and disclosures.
 

About Our Guest Speakers:


Matt Calabro is an experienced Chief Compliance Officer, having served as CCO for registered mutual funds, investment advisers and a family of UCITS funds. Before joining CSS, Matt was Deputy CCO at Delaware Investments, where he led the daily activities of the firm’s compliance department covering advisory, fund and distribution activity. Under his leadership, Delaware implemented specific improvements in its guideline compliance, advertising review and Code of Ethics programs. Prior to Delaware, Matt spent 20 years in Raymond James’ investment advisory business, where he led mutual fund operations. While there, Matt implemented and upgraded controls, processes and technology and also served as the first full-time CCO to the mutual funds following the adoption of the Compliance Rule. Matt leverages his compliance and operations experience in the investment management industry to assist advisers and investment companies in advancing the effectiveness of their compliance programs.
 

Victoria Olson has been a compliance consultant for several years, most recently with Alaric Compliance Services. She is a Certified Regulatory and Compliance Professional (CRCP issued by FINRA Institute at Wharton), and a Chartered Life Underwriter. She also completed the Certified Anti-Money Laundering specialist (CAMS) course. Victoria previously served as the Chief Compliance Officer to an SEC-registered investment adviser and has extensive experiencing working with RIAs. Prior to consulting, Victoria was Chief Compliance Officer and AML Compliance Officer at Forethought Financial, Director of Compliance at Prudential Financial, and a Senior Compliance Officer at The Phoenix Companies. Victoria formerly served as Chair of the FINRA District 11 Committee and successfully completed the FINRA Series 4, 6, 7, 24 and 66 Examinations.
 
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Coffee and Regs

Cybersecurity Training, Talent and Diversity

Cybersecurity Training, Talent and Diversity

In this episode, Founder and CEO at CyberVista, Simone Petrella and CSS’s Director of Cyber IT Services, E.J. Yerzak discuss the importance of cybersecurity training, education, how to recruit talent and diversity in cyber and why compliance and cybersecurity are synonymous.
 

 

About Our Guest Speakers:


 
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
 
 

Simone Petrella is CEO and Co-Founder of CyberVista. Previously, Simone was a Senior Associate at Booz Allen Hamilton where she helped build the firm’s cybersecurity practice in the commercial sector focusing on the creation of cyber fusion centers and the integration of cyber threat intelligence, security operations, and cyber defense operations into effective cyber security operations. For a decade she led the firm’s all source cyber threat intelligence business in the national security and Defense sectors, where she built out a threat capability and team with in depth subject matter expertise in all aspects of cyber threat intelligence, including intelligence support to both defensive and offensive operations. Her areas of specialty included predictive cyber intelligence based on an understanding of the threat adversary and developing service offerings to integrate intelligence into exercises to provide realistic cyber scenarios. Simone received her J.D. with honors from Catholic University’s Columbus School of Law and graduated from Georgetown University with a B.A. in Government and a M.A. in International Law and Policy. She is a member of Women in International Security and is admitted to the New York Bar. A native of New Jersey, she has resided in Washington D.C. since 2000.
 
Categories
Coffee and Regs

An ESG Fireside Chat with KPMG’s Kay Swinburne

An ESG Fireside Chat with KPMG’s Kay Swinburne

In this episode, Vice Chair of Financial Services at KPMG UK, and former parliamentarian, Dr. Kay Swinburne and CSS’s Chief Product Officer Ronan Brennan discuss the latest on ESG, level 2 SFDR and what investment managers need to be thinking about to prepare for 2022 implementation.
 

About Our Guest Speakers:


Dr. Kay Swinburne is Vice Chair of Financial Services KPMG UK, and previously served as Vice Chair of the European Parliament’s influential Economics and Monetary Affairs Committee, playing a pivotal role in shaping EU and global financial services legislation, including setting up the EU supervisory bodies (ESAs, SSM, SRM), capital markets union (EMIR, MiFID II, Prospectus, CCP Recovery & Resolution), and the broader banking union files. Prior to Kay’s career as an MEP, Kay worked in investment banking. Kay brings a unique insight to policy ‘behind the scenes’ and the reality of Brexit in the aftermath of 31 January 2020.
 

 

 
Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.