Product Type: Market Research Report
Published by: TowerGroup
Published: April 2007
Product Code: R301-1270Description The combination of large sums of money, private information, and employees with access to that information creates an environment that is prone to inadvertent conflicts of interest and, more seriously, to a greater risk of internal fraud. Stakeholders demand high levels of internal control to guard against conflicts of interest, and asset managers have a fiduciary responsibility to meet these demands. This TowerGroup Research Note focuses the issues associated with preventing conflicts of interest and highlights best practices in improving employee involvement and corporate monitoring.
Table of Contents
- TowerGroup Take-Aways
- Report Coverage
- Vision
- Global Regulations: At the Heart of Personal Trading Oversight
- Exhibit 1 Regional Examples of Regulation on Personal Trading by Employees of Securities Firms (2007)
- Penalties Ripped from the Headlines
- MiFID: More than Market Data and Best Execution
- Issues Related to Employee Oversight and Certification
- Exhibit 2 Preventing Conflicts of Interest: The Employee Oversight Process (2007)
- Oversight of the Employee Certification Process
- Employee Participation
- Compliance Analysis
- The Added Complexity of Personal Trading
- Monitoring Households
- Meeting Preclearance Requirements
- Managing External Data
- Managing Internal Data
- Ensuring Global Privacy
- Institutional Best Practices: Breaking the Habit of Paper
- Coordinate attestations
- Use third-party applications
- Think internationally
- Minimize the number of designated brokers
- Considerations for Choosing Providers
- Exhibit 3 Selection Questions for Institutions Choosing Personal Trading Surveillance Partners (2007)
- Technology Spending Estimates
- Exhibit 4 Global Spending on Third-Party Technology for Oversight of Conflict of Interest (2007P-12P)
- Summary
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