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IPC Survey Reveals C-Suite View on Compliance Investments, Financial Firm Challenges

89 percent of financial company participants cite ‘compliance culture and conduct’ as a top concern; 

85 percent say Brexit, new U.S. administration have had no impact on plans for managing risk and compliance 

NEW YORK, April 20, 2017 – Compliance culture and conduct, understanding new regulations and rules, and “operationalizing” responses to new regulations are the top three compliance issues for C-level executives at financial markets companies, according to a new IPC Compliance survey of 2017 Securities Industry and Financial Markets Association (SIFMA) Compliance and Legal Society Annual Conference attendees. IPC is a leading global provider of risk and compliance communications solutions for the financial markets community. 

When asked how much political risk and perceived instability were affecting their decision-making on how to manage risk and compliance, 85 percent of financial firm executives surveyed indicated there was no impact nor did they see a difference in their business.  In terms of technology-related compliance issues, three key areas far outpaced others:  93 percent of the participants cited data management; 91 percent cited network resilience/uptime and 89 percent noted the integration of communications records and archival.  Investments in risk and compliance have grown significantly in the past year, with nearly 90 percent of those surveyed reporting at least a 10 percent increase in compliance-related spending while more than 80 percent cite a 20 percent or more increase in compliance-related spending.  Some 82 percent of financial executives respondents use risk and compliance strategy and investment as a competitive advantage, according to survey results. 

“As we at IPC well know, compliance is not being taken lightly by the world’s financial firms as MiFID II rules rapidly approach and regulatory pressure continues to mount,” said Lionel Grosclaude, Senior Vice President, Risk and Compliance and Managing Director for EMEA. “Concerns over capturing, archiving and retrieving data for all regulated users and from many disparate communications sources have grown exponentially as has the need to utilize the data to drive meanful insights.  That’s why addressing the complete spectrum of financial markets’ company information governance challenges with expertise, counsel and technology solutions is essential for businesses to advance.” 

The IPC Compliance Survey was conducted in-person at the 2017 Securities Industry and Financial Markets Association (SIFMA) Compliance and Legal Society Annual Conference on March 19 and 20, in San Diego, CA. In total, 103 conference attendees were interviewed. For more information, please download the IPC Compliance Survey e-book and infographic.

About IPC

IPC is a technology and service leader that powers financial markets globally. We help clients anticipate change and solve problems, setting the standard with industry expertise, exceptional service and comprehensive technology. With customers first and always, we collaborate with each to understand their individual needs to help make them secure, productive and compliant within our connected community. Through service excellence, long-developed expertise and a focus on innovation and community, we provide agile and efficient ways for our customers to accelerate their ability to adapt to the ever–changing requirements for advanced data networks, compliance and collaboration with all counter-parties across the financial markets. www.ipc.com

Certain statements contained in this press release may be forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should" or "will" or similar terminology. Any forward-looking statements are based on current expectations, assumptions, estimates and projections. Such forward looking statements involve known and unknown risks and uncertainties, many of which are beyond our control. Actual results may differ materially from any future results expressed or implied by these forward-looking statements.

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