Almost half of financial organizations reported being examined by regulators in the last 12 months, according to Smarsh's 2017 Electronic Communications Compliance Survey, and examiners are looking more closely at firms' communications.
However, although firms have increased their efforts to meet compliance requirements regarding electronic communications with clients, significant gaps remain, the report found.
After jumping from 27% to 42% last year, the percentage of firms that reported being visited by an examiner in the last 12 months rose to 47% in 2017.
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