Virtual Meetings Creating New Compliance Gap, Report Warns

Law360 (February 23, 2021, 2:27 PM EST) -- Financial firms are failing to adequately track the virtual meetings necessitated through the COVID-19 pandemic, creating a concerning "compliance gap" that could leave them vulnerable in the face of examinations and investigations by regulators, according to a new report that surveyed more than 100 U.S. financial institutions. 

According to the annual risk and compliance survey report released by Portland, Oregon-based Smarsh on Monday, 83% of firms surveyed are working remotely and allow the use of conferencing tools such as Zoom and Microsoft Teams, but only 22% of respondents have established programs to supervise and archive the content.

The report suggests that...

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