Financial Firms Struggled to Maintain Regulatory Compliance Standards

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Greenwich Report Analyzes Challenges Facing Market Participants Trying to Maintain Compliance While Trading From Home

When COVID-19 shuttered trading floors in March 2020, many buy-side and sell-side firms faced a stark choice: shut down operations, or continue trading from home and risk violating the many security and monitoring requirements that govern capital markets participation.

Fortunately for firms that were under-prepared for the pandemic-induced upheaval, regulators in the U.S. and Europe granted preliminary relief to firms that might have broken compliance standards during the sudden shift to remote trading. However, market participants now are scrambling to ensure they have the infrastructure and controls in place to make remote trading as secure as trading from the office—and they are doing so while simultaneously managing an historic spike in trading volumes and the unprecedented transition of entire staffs to work from home environments.

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