For many firms, a remote workforce is now a new reality. Even with many states’ shelter-in-place restrictions lifting, firms are continuing with their work-from-home strategies for the majority of their staff. This transition and the related challenges have forced firms to re-evaluate their current cybersecurity and remote policies and procedures. The following considerations are important to ensure that your remote staff has the tools in place to adhere to regulatory rules, firm procedures, and best practices.
The messages are clear. Sales practice concerns, fraud, and operational issues related to the COVID-19 pandemic have arrived. Compliance professionals who are responsible for the surveillance and review of targeted areas of the compliance program should understand what may be coming down the pipe and ensure that their programs are sufficiently flexible to identify potential red flags.
FINRA warns member firms to be on the lookout for a fraudulent phishing emails that are currently circulating. Recently, member firms have reported to FINRA that they have received suspicious emails targeting their compliance personnel.