THE MANY CHALLENGES OF INFORMATION SHARING
BUILDING THE CHINESE WALL This highlights a major challenge when it comes to compliance — particularly when it comes to the public and private side employees in financial institutions. The problem comes down to the fact that financial services firms frequently receive and handle information that counts as confidential or “insider” information (also known as MNPI – or Material Non-Public Information).
INFORMATIONAL FIREWALLS The concept of Chinese walls has existed since the 1929 stock market crash when Congress first seriously discussed regulatory barriers separating investment bankers and brokers. However, the need for such divides has greatly increased over the past couple of decades, following the enacting of the Gramm-Leach-Bliley Act of 1999 (GLBA).
HAVE THE RIGHT TOOLS IN PLACE At Shield, we know that the world of detection doesn’t stay still. It’s not enough to simply set up lexicon-based models and hope that they will catch any potentially violating behavior that’s thrown at them. With that in mind, we continually add to, modify, and otherwise improve the detection models we used to provide updated coverage regarding the latest risk areas, along with new products, areas of business, mandated lines, and comments from regulators.
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