Published on Apr 19th, 2021 |

 

As Q1 comes to an end, we have seen a lot of forecasted trends for 2021 already taking place in the Industry. 

These trends are worth your attention to help YOU stay ahead and become stronger sailing into Q2.

5 Forecasted Trends in Compliance for 2021 based on Q1 results:

  1. As we continue to see ongoing growth in digital transformation, it is important to have a high focus on sustainability and trusted data. This will be crucial, especially for digital offerings to clients.
  2. It is important to have control of the risk and compliance environment for 2021. Being able to use software can be crucial for your company to make safer risk-related decisions.
  3. There has continued to be a large increase in cyberattacks as we have seen recent breaches of software. It will be crucial to have an increase of requirements to strengthen the overall operational resilience.
  4. As we are starting to see initially delayed rules and regulations come out with effective starting dates, it is important to make sure you stay up to date with SEC Releases. This will help make sure you are not falling behind on preparing for when new rules and regulations take effect. With regards to the SEC Marketing Rule taking effect on May 4th, Vigilant’s Thought Leaders have provided a Resource Guide that can be found HERE summarizing key points on the Rule.
  5. We began to see increased attention on ESG during Q1. The SEC made it evident that this year it is going to enhance their focus on the ESG-related risks and overall climate. The overall goal for the SEC is to have the ESG considerations and climate integrated into their agency’s broader regulatory framework. To see the SEC discuss more detail towards ESG and other Examination Priorities for 2021 click HERE!

It is going to be very important for Compliance Officers to take note of these trends and to continually stay up to date on new rules and requirements. It is imperative to adjust your plan of action accordingly.