Since then, communication has changed significantly. Communication has changed dramatically from the old word of mouth to writing, wire and digital. Innovation has had a profound impact on the way people work and howorganizations communicate around the globe. The most significant technological breakthrough was seen when COVID-19 occurred. The use of apps and programs such as Zoom, Cisco WebEx, and Microsoft Teams for remote collaboration was necessaryfor modern communication.
Instant messaging apps like Telegram and Signal, WeChat and WhatsApp bridged this gap to provide work-related communication solutions. Because of the rapid advancement in communication technology, regulatory agencies like SEC or FINRA have updated their rules and introduced new rules to accommodate this hybrid working arrangement of companies.
On Communication Compliance
To protect investors in the market, companies must comply with SEC regulations. Financial fraud is also prevented by properly keeping information regarding clients, employees, and business-related communications. Failure to comply with communication requirements can lead to monetary or non-monetary sanctions. Companies must ensure that records are regularly checked and balanced to comply with regulatory requirements to avoid these.
SEC and FINRA archiving regulations include monitoring and capturing email messages from companies. Organizations should note that employees cannot use private or personal email for business communications. It should be noted that some companies may use Skype or other SMS/text messaging apps for their business communication. So, even call monitoring is essential. For example, Signal call recording will be important in monitoring employee-client calls to fit the signal compliance rule set forth by regulating commissions.
Last but not least, the monitoring and archiving systems that regulatory bodies have introduced are in line with today’s business-related communications. Companies should be proactive in preparing for sweeps, given the new digital channels. This will ensure that they remain relevant and compliant despite changes in business and communication landscapes.
Let this infographic by TeleMessage tell you more about the record-keeping rules of FINRA and SEC for company business communications.
