Off-channel comms ‘hottest’ SEC mock exam topic, survey finds
By 
Adrianne Appel2024-07-18T14:27:00
Nearly three-quarters of compliance professionals at investment firms have made testing for off-channel and electronic communications surveillance a top priority in mock exams, according to a new poll, with more than half calling it the “hottest” topic of discussion.
The survey, published Tuesday by the Investment Adviser Association (IAA), ACA Group, and Yuter Compliance Consulting, found 65 percent of compliance professionals at 595 investment adviser firms polled in May arranged for mock Securities and Exchange Commission (SEC) exams to take place in case of an actual exam.
About 85 percent of respondents said the mock exams helped identify best practices and other issues that needed to be enhanced in preparation for a real exam.
Related articles
-
News BriefSEC nets $1.3M in off-channel comms sweep against municipal advisory firms
Fines for off-channel communications use by employees just keep on coming, with 12 municipal advisory firms fined a total of $1.3 million in the latest Securities and Exchange Commission sweep.
-
News BriefSix credit rating firms to pay $49M for off-channel comms violations
Six credit rating agencies will pay $49 million in fines to the Securities and Exchange Commission for allowing their employees to communicate on company business using nonapproved communication channels like Whats App and WeChat.
-
News BriefLatest off-channel comms sweep nets SEC, CFTC $477M in fines
Two regulators doled out more than $477 million in fines on a new group of broker-dealers, investment advisers, and swaps dealers that failed to maintain and preserve the electronic communications of their employees, bringing total such fines issued since 2021 to $3.2 billion.
More from Surveys & Benchmarking
-
PremiumInside the Mind of the CCO: Compliance in an uncertain world, still with fuzzy reporting lines
The world is rapidly changing. The European Union is stepping up rules and enforcement, while the United Kingdom is charting its own course. And now the United States is taking a third tack, with unclear regulation enforcement under a mercurial Donald Trump’s second term as president underway.
-
PremiumInside the Mind of the CCO: Salaries level out in 2024
An overheated demand for compliance officers in the post-Covid era finally cooled off in 2024, according to Compliance Week’s Inside the Mind of the CCO survey.
-
PremiumSurvey: Compliance, now at the leadership table, navigates an uncertain risk landscape
At a time when the Trump administration is rewriting many of the rules, the compliance function is being embraced as a strategic partner to the C-suite and board, Compliance Week’s 2024 “Inside the Mind of the CCO” survey shows. The new objective: risk-assess the implications of Trump’s confetti of executive ...