A unified data fabric is fast becoming wholesale finance’s front line of defence. By fusing millions of voice calls, chat messages and trade records into a single analytical view, next generation surveillance promises to detect misconduct in minutes and to satisfy regulators who increasingly ask firms to prove that capability. A-Team Group RegTech Summits in London (16 October) and New York City (20 November) will bring those expectations and the technology that meets them into sharp focus.
The legal foundation has been in place for years: For example, CFTC Rule 1.35 requires swap dealers and futures brokers to keep and reproduce all pre trade communications – voice, chat, email – linked to an order. What has changed is the speed and completeness that supervisors now assume. The SEC’s 2025 examination priorities flag information security and operational resiliency as critical to market integrity reviews and warn that claims about AI or digital products will be tested against underlying data governance controls. In the UK, fresh FCA data show 4,527 Suspicious Transaction and Order Reports (STORs) for 2024, the highest total since MiFID II went live – with more than 90% concerning insider dealing.
A continuing SEC–CFTC sweep over “off channel” business communications has already extracted more than $1.7 billion in penalties, including a $16million August 2024 settlement with Piper Sandler that underscored how quickly fines follow poor recordkeeping.
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