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SEC Focus on Communication Compliance - Fond Sector B

SEC Focus on Communication Compliance

Communication has changed since then from the traditional word of mouth to written, to wire, and now digital. Technology brought us this far. Innovation widely changed how people work and how organizations connect around the world. And the most significant technological advance was observed when COVID-19 happened. Modern communication was pushed to the highest level by using apps and programs like Cisco WebEx, Zoom, and Microsoft Teams, to name a few, for remote collaboration. 

On the other hand, instant messaging applications like Telegram, Signal, WeChat, and WhatsApp bridged the gap for a work-related communication solution. Because of this tremendous change in communication technology, regulatory entities like SEC and FINRA updated and introduced new rules to match the hybrid working setup of companies. 

On Communication Compliance

All companies have to comply with SEC rules to protect investors in the market primarily. Record keeping of information about employees, clients, and business-related communications is a must also to avoid financial fraud. Often, communication compliance failures result in monetary and non-monetary penalties. So, to prevent such, firms need to ensure regular check-and-balance of records to meet the regulatory requirements.

SEC and FINRA archiving regulations also include the monitoring and capturing of email messages coming from firms. It should also be duly noted by organizations to prohibit private or personal emails by employees for business communications. If ever some companies use Skype and other SMS or text messaging apps, they should also be included in the archiving system for mobile compliance.

For a final note, regulatory bodies’ monitoring and archiving solutions are matched with today’s business-related communications. With these new digital channels, companies are encouraged to take the proactive part of preparing for sweeps to stay relevant and compliant despite the changes in the business and communication landscape.

Check out this infographic by TeleMessage and learn more about SEC and FINRA record-keeping rules. 

SEC-Focus-on-Communication-Compliance