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- Compliance and information technology; Dashboard compliance; Values compliance; Reasonable supervision; Broker-dealers; Investment advisers; Compliance officers; Compliance culture; Financial regulations; Data mining; Productivity of compliance officers; Technology oversight; Automated/ algorithmic trading; Letters of Credit; Big Data; Insider trading; Corporate governance (1)
- 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 (1)
- Financial regulation; Compliance technology; Cybersecurity; Agency problems; Risk analysis; Financial accidents; Systemic risks; “Too linked to fail”; “Too fast to save”; Hackers; Cybercriminals; Corporate governance; Risk management; Human agency; Artificial intelligence (1)
- Securities regulation; Investment advisers; Third party examiners; Third party examination models; Self-regulatory Organizations (SROs); Arbitrary and Capricious Standard; Administrative Procedure Act (APA); Administrative Rulemaking; Section 206(4) of the Investment Advisers Act of 1940; “Reasonably designed to prevent fraud” test; Unauthorized tax; Congress’s Power of the Purse; Securities regulation; Compliance policies and procedures; Adviser examinations; Nationally recognized statistical rating organizations (NRSROs); Proxy advisory firms; Certified Financial Analyst (CFA) Institute/CFA; Public company auditors; Chief Compliance Officers (CCOs); Compliance audits and reviews; Internal controls; Cost-benefit analysis; Financial regulation (1)
Articles 1 - 5 of 5
Full-Text Articles in 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.
Dashboard Compliance: Benefit, Threat, Or Both?, James Fanto
Dashboard Compliance: Benefit, Threat, Or Both?, James Fanto
Brooklyn Journal of Corporate, Financial & Commercial Law
This Article poses the basic question that is reflected in its title and that was the subject of the conference where the Article was initially presented: whether technology poses any threats to the mission of compliance and the position of compliance officers, whether it is just another useful tool for them, or whether it is something of both. It begins by explaining the origin of compliance in broker-dealers and investment advisers and its important current position in those firms. It then discusses why compliance officers have always been drawn to technology, particularly to keep up with the business sides of …
Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, Mercer Bullard
Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, Mercer Bullard
Brooklyn Journal of Corporate, Financial & Commercial Law
The Securities and Exchange Commission (SEC or Commission) appears to be on the verge of requiring investment advisers to undergo third party examinations. One justification for the rulemaking is that the Commission lacks sufficient resources to examine advisers frequently enough. Another is to create indirectly a self-regulatory organization (SRO) for investments advisers. Both may leave a rulemaking particularly vulnerable to challenge as arbitrary and capricious under the Administrative Procedures Act. This Article considers three novel grounds on which a rulemaking may be successfully challenged. Congress has repeatedly rejected SEC requests to provide additional funding for examinations or to create an …
Compliance, Technology, And Modern Finance, Tom C.W. Lin
Compliance, Technology, And Modern Finance, Tom C.W. Lin
Brooklyn Journal of Corporate, Financial & Commercial Law
An important transformation is happening in the financial industry. The rise of new technology and compliance has dramatically altered many of the key functions and functionaries of modern finance. Artificial intelligence, algorithmic programs, and supercomputers, instead of human actors, now constitute the core of many financial operations. Compliance officers have become just as critical to financial institutions as traders, bankers, and analysts. Finance as we knew it has changed and continues to change. This symposium Article offers a studied commentary on these unfolding changes, the crosscutting developments in compliance, technology, and modern finance. It examines the concurrent and intersecting ascents …
Personal Injury Victims As Insurance Collection Agents: Erisa Preemption Of State Antisubrogation Laws, Jonathan P. Connery
Personal Injury Victims As Insurance Collection Agents: Erisa Preemption Of State Antisubrogation Laws, Jonathan P. Connery
Journal of Law and Policy
The Employee Retirement Income Security Act (ERISA) was enacted in 1974 to protect the pension rights of employees nationwide. However, due to its broad preemptive powers, ERISA has since developed into a tool used by health insurers to recover millions of dollars in tort damages meant to benefit employees with ERISA health plans. This practice, known as subrogation, has been met with legislative backlash in the form of state antisubrogation statutes, which attempt to limit the enforceability of subrogation clauses found in almost all ERISA health plans. However, many courts have held that ERISA preempts these antisubrogation statutes, thereby affirming …