Compliance Newsflash – February 20, 2019

February 20, 2019

DLA is committed to keeping our clients and friends updated on relevant news and topics in the industry by distributing a weekly Compliance Newsflash. We hope this provides you with helpful and insightful information for you and your firm! Join our mailing list by clicking here: DLA Newsflash Registration.

The Future of RegTech: The Challenges and Opportunities

On February 5th, 2019, the Financial Industry Regulatory Authority announced that RegTech tools can present both tremendous opportunities and tremendous challenges for firms and regulators alike. They can also pose some interesting philosophical questions when it comes to their implementation. 

For more information, click here.

FINRA Warns of Fraudulent Phishing Emails Targeting Member Firms

On February 13, 2019, the Financial Industry Regulatory Authority warned member firms to be on the lookout for a fraudulent phishing email that is currently circulating. Brokerage firms reported to FINRA that they have received suspicious emails targeting their compliance personnel. The email appears to be from a legitimate credit union attempting to notify the firm about potential money laundering involving a purported client of the firm. The email directs the recipient to open an attached document-which likely contains a malicious virus or malware designed to obtain unauthorized access to the recipient’s computer network.

For more information, click here.