MirrorWeb

Our Sales team spends a lot of time speaking to compliance officers in the United States, observing occasional 'US Days' where they work later to account for the time difference across the pond.

They like to spice things up once in a while. The most recent effort was a Hawaiian themed ‘Tropic Like it’s Hot’ extravaganza, no doubt inspired by our recent heatwave (the hottest day in Manchester’s history!).

We seem to have found a winning formula. Hula skirts and tiki bars got the best out of them!

Following a tumultuous year in the crypto market, March 22nd saw President Biden sign an Executive Order on Digital Assets, in what many viewed as a progressive moment for the industry.

The government is, however, starting from scratch on crypto, and months down the line, there is still uncertainty around what this regulatory framework will look like.

Here in Corporate Compliance Insights our Operations Director Harriet Christie looks at the contents of the Executive Order, its implementation so far, the next steps, and its impact on regulatory compliance in crypto - https://bit.ly/3PIqaov

Unpacking Biden’s Crypto Executive Order | Corporate Compliance Insights Rather than an exhaustive dossier of rules and regulations providing next steps for crypto firms, President Joe Biden’s March 9 crypto executive order was more akin to “a plan to make a plan.”

Gamification in trading is on the radar of the SEC, who are concerned by game-like features and digital prompts from online brokerages and investment advisors, that provide misleading projections with no mention of the risk involved - https://bloom.bg/3BySSUX

With a crackdown imminent, firms will need to capture their website content to ensure that any gamification ‘isn’t crossing the line into recommendation’.

The MirrorWeb platform captures the most dynamic web content on the market, including the complex digital features in the SEC’s crosshairs. Our technology captures all elements of a site and replays it as if it’s a live website, proving compliance without question. Book a demo here to learn more - https://bit.ly/3yTJMPB

Regulators are poised to administer around $1 billion in fines to the five largest U.S. investment banks, for failing to monitor employees using unauthorized messaging apps. The issue was exacerbated by the cultural shift to remote working in 2020 - https://wapo.st/3RKKuHn

Following on from JP Morgan’s $200 million fine in December, Morgan Stanley, Citigroup, Goldman Sachs and Bank of America are all in discussion with the SEC, negotiating their penalties for noncompliance. The floodgates appear to have opened, with authorities ‘using that settlement as a yardstick for the industry’.

The MirrorWeb platform captures and archives communications data across personal messaging apps, from WhatsApp to WeChat and Telegram, allowing firms to monitor employee usage and remain compliant. Book a quick demo to learn how we’ll help protect your business: https://www.mirrorweb.com/

After a busy spell getting set up Stateside, our Austin cohort have been enjoying some well earned R & R.

Floating down a river, basking in the sunshine with a beer in hand is not something that happens too frequently back in Manchester.

Great to see the team acclimatizing so easily to Austin life!

The UK Financial Conduct Authority's (FCA) third consultation period on its new ‘Consumer Duty’ has now closed, and final rules are expected by 29 July 2022 - https://bit.ly/3P3Y9HP

The Consumer Duty applies to financial services firms dealing with consumers, and represents a shift in how the FCA regulates this sector, urging leaders to be more proactive in their approach.

Four outcomes provide guidance around what the FCA wants to see, including the ‘consumer understanding’ outcome. This states that ‘firms should support customers by ensuring communications meet the information needs of customers, and are clear, fair and not misleading.’ Those firms will need to prove this by keeping records of their interactions.

At MirrorWeb, this is our bread and butter. Most of our clients operate in the financial services industry in the US, where all client-facing communications must be captured to comply with SEC regulations. Book a demo here to learn about the huge variety of platforms MirrorWeb captures, from websites through to WhatsApp - https://bit.ly/3z1UKUj

Time has come to prepare for the consumer duty The final policy statement for the Financial Conduct Authority s new consumer duty should be published at the end of July

Music to our ears! We know the importance of our customers using the platform with confidence, and do everything we can to make that happen.

As remote work has become a staple of modern business operations, tools for monitoring employee productivity (video surveillance, screenshots, desktop monitoring) have also become more prevalent.

What is surprising, however, is the effect that these tools are having on employee conduct. Recent studies have shown that monitoring staff in fact makes them more likely to break rules and behave irresponsibly, a paradox most likely ‘driven by a shift in their sense of agency and personal responsibility’ - https://bit.ly/3IjZyY6

While productivity can feasibly flounder, compliance must not. The MirrorWeb platform captures and archives all business communications, from email to social media through to instant messaging platforms, allowing your compliance team to quickly rectify any wrongdoing borne from a casual approach. Book a demo here to learn more - https://bit.ly/3uxFCeJ

Monitoring Employees Makes Them More Likely to Break Rules As remote work becomes the norm, more and more companies have begun tracking employees through desktop monitoring, video surveillance, and other digital tools. These systems are designed to reduce rule-breaking — and yet new research suggests that in some cases, they can seriously backfire. Specif...

Here at MirrorWeb we follow the ‘Shape Up’ methodology, a product development process popularized by Basecamp.

Shape Up democratizes a company’s decision-making process, while focusing development teams over a short period of time and ensuring that they have the headspace and the freedom they need to meet their objectives.

After the first six-week cycle, we caught up with our SVPs of Product and Engineering to learn more about what Shape Up is, how it has been working for MirrorWeb, and the lessons learnt along the way - https://bit.ly/3nopE2q

Shape Up - A Product Development Methodology | MirrorWeb An interview with MirrorWeb's SVPs of Product and Engineering, evaluating the team's new way of working.

President Biden recently signed an Executive Order to begin the process of developing a clear regulatory framework for digital assets.

In the midst of ‘one of cryptocurrency’s worst slumps in history’, the approach has been somewhat validated, and SEC chairman Gary Gensler has called for greater urgency in the development of this framework https://bit.ly/3y1UDXl

By proactively addressing these concerns, crypto firms can demonstrate their responsibility as a business and develop a relationship with regulators as both parties adapt to new practices.

To learn more about how MirrorWeb can ensure you meet this evolving regulation, get in touch with one of our experts today - https://bit.ly/3OBb8B0

After a little spring cleaning, we’re very happy to share our brand spanking new website!

We stripped it back and looked at what customers love about MirrorWeb - our product offering, our user experience and the people that make our company great - and decided to focus on that.

Test it for yourself - why not hit that 'book a demo' button? 😉https://www.mirrorweb.com/

MirrorWeb is officially Stateside! Excited to announce that, with the backing of Maven Capital Partners, we have opened up our first US base in Austin, Texas! This is a huge milestone for the MirrorWeb team, and we’re excited to build on these sturdy foundations and continue scaling our team and client base https://bit.ly/3QyKidF