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22 November 2018

A new dawn for scenario-based surveillance

The era of lexicon-based trade and communications surveillance has moved past its peak as a powerful new wave of tools driven by machine learning and Big Data raise the bar for compliance and satisfy the increasingly stringent demands of regulators.

Not only have several vendors from the first generation ceased activity, financial services institutions are demanding additional solutions to address their surveillance shortcomings in light of new regulation, or to address findings by regulators.

If any one event marked the need for a new and different way to monitor and manage conduct risk, it was the $2m fine handed out to an independent broker dealer for lexicon deficiencies. The firm had a surveillance system in place, but it somehow missed crucial information for almost a decade.

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