IIROC released its 2016 Compliance Priorities last week, cautioning pioneers of the FinTech wave that compliance efforts will be closely following the industry's technological advancements. In addition to reminding dealers that social media promotion is still subject to advertising rules, IIROC says it will be developing a methodology to detect deficiencies in online business models (including robo-advisors), dig deeper into systemic cybersecurity risks, and keep tabs on the dangers of the electronic trading override function, which can allow human error to prevail over software controls. Read the full Notice.
Hold the date: BLG's Annual FinTech Forum on April 27th will feature an industry panel discussing this and other issues. Watch for more information to come soon!
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