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BrokeAndBroker.com Blog by Bill Singer Esq WEEK IN REVIEW

November 5, 2022

https://www.brokeandbroker.com/6746/ns8-rogas-hansen-peirce/
Today's blog is a grab bag of a hodge-podge of a mishmash. We got a company supposedly preventing cyberfraud but for the fact that one of its C-Suiters criminally defrauded investors. Then we got another of the company's C-Suiters who entered into an SEC settlement by which he agreed to cease and desist from further efforts to impede an individual from communicating directly with the SEC. In response to that settlement, we have a dissenting SEC Commissioner, who doesn't see efforts to impede, but, rather, views the conduct as the company's keen interest in protecting its data. Fall is in the air and the sweet smell of irony abounds in Wall Street regulation!

https://www.brokeandbroker.com/6744/finra-rbc-awc/
In a recent FINRA AWC regulatory settlement, RBC Capital Markets was cited for the manual nature of its paper statement review process, personnel turnover, and outdated technology systems.  Those are interesting allegations by a Wall Street regulator. In discussing the settlement, we ask some provocative questions about the limits of human oversight. Further, we wonder as to the impact of the Covid Pandemic on personnel turnover. Finally, at what point does tech become outdated?

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