Regtech Shield Launches INSIDERS Service to Track Insider Trading

Shield, a UK based Regtech, has launched a solution that is said to combine its Insider Trading and Information Handling feature to provide greater monitoring of employees. The Shield “INSIDERS” is described as using AI, to provide a highly accurate integrated approach to monitor all relevant communication channels while simultaneously demonstrating to the regulator that any potential avenues for Insider Trading are closed.

Shield says the service is needed now more than ever as firms have migrated to virtual operations during the ongoing health challenge. Shield states that despite the shift to remote working, regulators are still strictly enforcing the rules. The US Securities and Exchange Commission (SEC) for example, has publicly commented that its virtual enforcement has seen an uptick of investigations and inquiries in insider trading and market manipulation matters and that its enforcement of regulations continues.

Shiran Weitzman, CEO and co-founder of Shield adds that despite ongoing social distancing rules and home working, regulators including the SEC and UK FCA are still strictly enforcing financial firms’ obligations under Market Abuse-related regulations.

“[This] means powerful and reliable automated surveillance is even more important than ever. The INSIDERS solution has been developed to ensure firms continue to stamp out market abuse, even when their employees are outside their direct view, whilst working away from company premises,” said Weitzman. “The Shield platform orchestrates the complete communications lifecycle. From pre-integrated connectors, archiving, records management through data normalizations and enrichment, and advanced analytics, our out-of-the-box detection models automatically alert the Compliance team of any potential issues.”

Weitzman notes that the expanding range of communications used in trading was already a significant challenge for firms when they were largely utilized on-site, but remote working has added a level of complexity that no human investigation team could be expected to accurately monitor.

“The new normal is a challenging time for the whole financial industry, but Shield’s solutions ensure firms have a full view of all interactions, to ensure remote working allows a business to thrive and grow, rather than falling foul of the regulations,” Weitzman said.

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