Since December 2021, twelve major U.S. and global investment banks have been fined for failing to properly record and retain employees’ conversations with clients. Interestingly, several of the fines have been for similar aggregate amounts: USD $200 - $225 million for larger ‘Tier One’ banks, and $80 – $100 million for ‘Tier Two’ firms; these fines were split between the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC).

In total, regulators fined nearly $2 Billion for Recordkeeping and Supervision Failures.

Still, 60% of the financial firms are not yet monitoring newer communication channels such as Microsoft Teams, Bloomberg, WhatsApp, Slack, Telegram, and Signal.

Read this playbook and learn how you can record and manage all your firms' trading communications, and adapt to all of the different ways your regulated employees communicate.