Financial Regulatory Forum

IMPACT ANALYSIS: Data protection practices and governance – action items for firms

March 3, 2016

By Julie DiMauro, Regulatory Intelligence

NEW YORK (Thomson Reuters Regulatory Intelligence) – Regulators want to see how well the organizations they oversee protect personal data. The challenge is to craft these protection protocols to meet their demands and to provide evidence of compliance.

COMMENTARY: Citigroup surveillance lapses: “but for the grace of God”

September 9, 2015

By Scott McCleskey, Regulatory Intelligence Expert

NEW YORK, Sept. 9 – The recent SEC enforcement action against Citigroup for trade surveillance lapses provides an embarrassing lesson about the pitfalls of technology and the importance of the “third line of defense”, an effective audit of the processes of compliance and other control functions. (more…)

Dewey & LeBoeuf collapse highlights importance to clients of safeguarding records

June 1, 2012

By Martin Coyle and Julie DiMauro

NEW YORK/LONDON, June 1 (Thomson Reuters Accelus) – The collapse of U.S. law firm Dewey & LeBoeuf underscores the importance to financial companies of gaining access to their legal records, ensuring continuity of advice, and safeguarding privileged information, according to regulatory lawyers and experts. Dewey, once one of the largest U.S. law firms with deep ties to Wall Street, filed for Chapter 11 bankruptcy protection earlier this week after failing to find a willing merger partner, and its UK unit was placed under administration. The former legal giant was saddled with $100 million debts, a criminal investigation and the departure of senior staff. It is likely to be liquidated. The failure is the biggest in the history of U.S. law firms. (more…)