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Brooklyn Journal of Corporate, Financial & Commercial Law
Compliance and technology; Self-regulatory organizations (SROs); Compliance; Financial regulations; Automated information gathering; Automated surveillance; Public disclosure; Information dissemination; Recordkeeping and reporting requirements; Dodd-Frank; Financial technology; Data analytics; Marketplace risks; Real-time regulation; Prophylactic regulation; “Regulation by enforcement” model; Empirical rulemaking; Culture of compliance; Homogenization of compliance practices; Cybersecurity; Human agency in compliance; Investment advisers; Broker-dealers; Regulatory performance standards; Revolving door; Corporate governance
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Full-Text Articles in Securities Law
Preserving Human Agency In Automated Compliance, Onnig H. Dombalagian
Preserving Human Agency In Automated Compliance, Onnig H. Dombalagian
Brooklyn Journal of Corporate, Financial & Commercial Law
As technology transforms financial services, so too must it transform the regulation of financial markets and intermediaries. The imperative of real-time, prophylactic regulation increasingly compels reallocation of regulatory and compliance budgets to surveillance and enforcement technology. At the same time, in light of the well-known weaknesses of automated systems, securities firms (and their regulators) must temper investment in automation with efforts to augment the agency of compliance professionals. This symposium contribution considers how investment in the professional development of compliance personnel can better integrate automated tools within established compliance and supervisory structures and thereby advance regulatory and operational objectives.