For over four decades, the London Interbank Offered Rate (LIBOR) rate has influenced various parts of the finance industry, used as the key point of reference for financial instruments, such as future contracts, the U.S. dollar, interest rate swaps, and variable rate mortgages.

In 2022, the SEC filed 760 enforcement actions, which was up 9% from 2021. They imposed a record-breaking $6.44 billion in monetary penalties, up 67% from 2021. These drastic increases are a result of the SEC ramping up enforcement efforts, charging steep penalties, and rewarding large sums to whistleblowers. As we all know, the consequences of compliance failures extend further than monetary penalties. These events can take a toll on your firm’s reputation and undermine employee morale.  

On August 23rd, the Securities and Exchange Commission (SEC) approved new rules aimed at improving the operations of private fund advisers and updating compliance regulations for investment advisers. Despite facing some resistance from firms, the SEC has asserted that these rules offer several benefits to investors when implemented.  

In 2023, Artificial Intelligence is transforming the way we conduct business around the world.  As new technology emerges in the financial services industry, many professionals in the investment industry are wondering how this may change Compliance and Regulatory Technology.  While we may not know exactly what these changes will look like, we can make sure we are prepared and updated on changes in technology.