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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!