The digital communication technology has profoundly altered the way employees communicate. After the COVID-19 pandemic, modern communication tools such as Zoom, Microsoft Teams, or Cisco WebEx were adopted by organizations for remote collaboration. There was also a marked increase in secure instant messaging solutions such as Signaland Telegram for work-related communications.
Thus, Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and other regulatory agencies have taken steps to address this remarkable growth in digital communication technology within regulated businesses. Their main priority for this year’s new normal is to enhance communication compliance. The regulators expected registered companies would adhere to the new digital communications technologies by expanding on existing efforts.
Regulators have had to modify their compliance rules due to the advent of digital communication technologies. They have created new regulations to accommodate hybrid working models. For example, the SEC wants registered companies to adopt new digital communication technologies like mobile archiving and instant message capture.
The Texas 944 text message bill is a way to restore public trust in Open Records Law. These rules will allow companies to protect customers, employees, information, and other sensitive data.
The SEC will also be looking at record-keeping practices in business communications and personal messaging apps. These areas will be the subject of formal enforcement investigations and whistleblower claims.
Companies should review their record-keeping procedures and adjust compliance programs to reflect recent agency guidance lessons and enforcement actions. It can help them avoid future regulatory action. Do not be alarmed if you are worried about the effects of this new focus.
Encrypt all electronic communications to keep your company and customers’ data safe. You should review your compliance policies and notify you if there are any errors or other violations.
Companies should also evaluate their technologies and practices to comply with the new SEC regulations.
TeleMessage’s infographic explains how the Securities and Exchange Commission (SEC) focuses on strengthening communication compliance: