A message from our Chief Strategy Officer
A foreword by Alex Viall, Chief Strategy Officer, Global Relay
It is my pleasure to present this report, which focuses on a topic that lays the bedrock for Global Relay: compliant communication.
When Global Relay was first founded in 1999, our main goal was to create a gold-standard compliant communication archive. Over the past 23 years, we’ve done just that while growing with the financial industry. As communication methods have evolved, so has our archive. We saw the roll-out of MiFID II, FINRA Rule 4511, SEC Rule 17a-4, and GDPR, and adapted our product offering to capture, monitor, surveil, and now to communicate in our own Global Relay App.
Over the last two years, regulatory expectations have become stricter than ever, with fines for non-compliant communications amounting to over $2 billion in the U.S. alone. This is a daunting time for many in compliance and surveillance, but we are here to help.
Communication is the core component of functioning financial services, but is also a topic that gives compliance officers the most concern. Financial institutions are grappling with regulatory needs from multiple angles, and all the while the channels of communication grow. As people communicate more, there’s more to capture. There’s more data to store. And there’s more information to surveil.
At Global Relay, communication is in our DNA and feeds to the heart of our solutions. This report is a means of communicating. It is a way to show how the industry is reacting to regulatory requirements and managing communication channels, from email to WhatsApp.
We draw on the results of our industry survey, as well as the informed opinions of attendees of our roundtable events, to present an industry-wide overview of compliant communications.
Compliance ultimately resides in effective communication, and I hope this report acts as a tool to bolster your compliance efforts. If you’d like to join our community, and attend our upcoming roundtables, please get in touch.
Alex Viall, Chief Strategy Officer
