Compliance duties viewed as more effective within office environment (IGNITES)

A compliance culture and the activities that support it are more easily managed and maintained from within the boundaries of a firm’s office environment. A recent survey by IGNITES indicates that many firms are seeing the need for compliance teams, along with finance personnel, to return to the office in a fuller capacity. Chief among the concerns for compliance that emerged during the pandemic’s remote work structure were security of sensitive data and oversight of employees, comments Amy Lynch, FrontLine’s Founder and President. Ms. Lynch explains how the accessing of systems within the office provides both actual and perceived security, which most firms’ compliance agree achieves the more secure setting. She also states that the in-office physical presence of compliance officers can benefit the messages they are communicating, as well as allowing their oversight functions to have more impact. See IGNITES (subscription required), “The Fund Pros Most Likely to Work From the Office

For additional coverage of regulatory issues, see Founder and President Amy Lynch’s comments in IGNITES (subscription required), “SEC to Weigh Whether Algorithms Are Recommendations.” Here she discusses how the SEC may have difficulty relying on Regulation BI’s definition of recommendations in seeking to protect investors from the gamification practices of online broker-dealers.