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In brief

COVID-19 is making physical meetings more difficult or undesirable, and all of us are regularly using virtual communications. However, in adopting virtual channels to deliver products and services, financial institutions need to work through issues touching on financial regulation, data privacy and technology.


Contents

These Data Journey Maps developed by Baker McKenzie cross-disciplinary experts help guide your organisation through these questions at a high level. In ten steps, they flag up considerations which should form part and parcel of your risk and compliance assessments, with a view to mitigating the potential risks of supervisory intervention and litigation.

In these primers, we covered the Australia, EU-UK, Hong Kong, Singapore, and the United States.

Author

Tim Alferink is a partner within the Financial Services & Regulation team in the Amsterdam Banking & Finance practice with over 18 years of experience. He focuses on financial markets regulations, financial products and financial markets transactions. Tim primarily works for financial institutions, ranging from international financial conglomerates to FinTech start-ups. In his pratice, Tim benefits from his broad experience as attorney-at-law, inhouse legal counsel and Big Four legal consultant. 

Author

Karen Man is a partner in Baker McKenzie’s Financial Services group, leading the non-contentious Financial Services Regulatory practice. Her clients include global, Chinese and local banks, fund managers, brokers/dealers, money service operators and fintech firms. Karen is admitted to practice in Hong Kong, the UK, and Australia.

Author

A. Valerie Mirko is a partner in Baker McKenzie’s Financial Regulation and Enforcement Practice Group in North America. Valerie has substantial experience in federal and state securities laws and regulations affecting the financial services industry, with a focus on the investment adviser and brokerage industries. Valerie has a background in both regulatory advice and enforcement counseling. Immediately prior to joining the Firm, Valerie was General Counsel of the North American Securities Administrators Association (NASAA). As General Counsel, Valerie advised NASAA’s Board of Directors on developments in the federal securities laws and their impact on state securities regulations. Valerie provided advice on, among other areas, the SEC Regulation Best Interest rule set, fiduciary duty/standards of care, preemption, retail enforcement issues, investment adviser oversight, and data privacy. She also supervised all of NASAA's securities-related legal work and was a resource on multistate enforcement investigations and settlements. Valerie also provided governance support on key NASAA Regtech projects and regulatory coordination initiatives between state and federal regulators. Valerie was a frequent speaker at regulator-only roundtables and training events. Earlier in her career, Valerie advised broker-dealers and investment advisers on regulatory matters and enforcement investigations as an associate at a Washington law firm and held legal and compliance roles at Oppenheimer & Co., Inc., and Merrill Lynch (now BofA Securities). Valerie is currently a member of the adjunct faculty at the George Washington University Law School and a subcommittee chair within the DC Bar Corporation, Finance, and Securities Law Community.

Author