Post Event Post: Adopt a Tactical, Strategic and Proactive Approach to Compliance

On Thursday 4th October, CEO, Shiran Weitzman was in London to showcase Shield FC’s Financial Compliance Hub at the A-Team Group’s RegTech Summit 2018.  The message that compliance requires a tactical, strategic and proactive approach clearly resonated with the audience of more than 100 senior representatives from major financial institutions, involved in regulatory change management, regulatory reporting, compliance, and investigations.

Shiran addressed current and future challenges surrounding proactive compliance including issues of measurement, control and oversight, end-to-end visibility of the trade lifecycle, the link between structured and unstructured electronics communication (e-comms) and trade data, as well as the impact of regulation and wider implications of Brexit on data.

Following his address Shiran commented: “It is apparent that financial institutions are still facing real challenges when it comes to the capture, storing, analysing and investigation of voice communications. Yet now they face the urgent and uphill challenge to do all of this with all e-comms channels, in order to comply with regulation such as MIFID II.”

Shiran adds: “As a consequence compliance and surveillance teams are asking important tactical and strategic questions about what to do with aging yet dependable legacy systems, how to break down silos of data, communication, and technology in order to gain the insights they need for efficient and effective investigations and reporting.”

These themes were recurring throughout the day, with some debate as to whether it was viable to build solutions to address them in-house. However, as Shiran concludes: “Why build you can access an already purpose-built and proven platform, that is open, vendor-agnostic and capable of seamlessly connecting all trade and e-comms data to satisfy both regulation and investigation purposes.”

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