IDEAS home Printed from https://ideas.repec.org/a/aza/jfc000/y2022v5i4p324-334.html
   My bibliography  Save this article

Data as sword and shield: How regulated entities in the banking and securities industries can utilise data analytics to improve compliance and manage enforcement risk

Author

Listed:
  • Montgomery, Brian H.

    (Senior Counsel, Financial Industry Group, Pillsbury Winthrop Shaw Pittman, USA)

  • Oliwenstein, David

    (Counsel, Corporate Investigations & White Collar Defense, Pillsbury Winthrop Shaw Pittman, USA)

Abstract

This article examines the role of Big Data in the regulation of the consumer finance and securities industries in the United States. Because many major international financial institutions are located in New York, this paper discusses the role of both federal and New York state regulators. These regulators increasingly rely on data to conduct risk analyses and shape examination priorities, which, in turn, can lead to investigations and enforcement actions (that are also increasingly driven by data analysis). This article also discusses regulators' expectations regarding the role of data analytics in the development of effective compliance programmes and how regulated entities can leverage data to proactively address issues before they become subject to regulatory scrutiny, and use this information during the course of examinations, investigations and enforcement actions.

Suggested Citation

  • Montgomery, Brian H. & Oliwenstein, David, 2022. "Data as sword and shield: How regulated entities in the banking and securities industries can utilise data analytics to improve compliance and manage enforcement risk," Journal of Financial Compliance, Henry Stewart Publications, vol. 5(4), pages 324-334, August.
    • Handle: RePEc:aza:jfc000:y:2022:v:5:i:4:p:324-334
    as

    Download full text from publisher

    File URL: https://hstalks.com/article/7154/download/
    Download Restriction: Requires a paid subscription for full access.
    File URL: https://hstalks.com/article/7154/
    Download Restriction: Requires a paid subscription for full access.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Data analytics; banking regulation; securities regulation; enforcement;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aza:jfc000:y:2022:v:5:i:4:p:324-334. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Henry Stewart Talks (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.