Findings shed light on need for clearer guidelines, as well as the greater adoption of policies and software solutions
York, UK - 27 September 2022 – StarCompliance (“Star”), a leading provider of employee compliance technology solutions, today released the key findings of its Second Annual Crypto & Compliance Survey, which examined how firms in the financial marketplace are approaching employee crypto-trading compliance. The survey was conducted to build awareness and provide greater clarification around the monitoring of employee transactions and holdings for crypto assets.
Results show that across the total population of those firms surveyed year-on-year, 37% now have an employee crypto-trading policy in place, while another 31% intend to put such a policy in place this year. Firms that have no plans of establishing such a policy in 2022 indicated they would implement policies in accordance with regulatory guidance once that guidance is officially put into effect.
“As the adoption of crypto and digital assets continues to increase, firms need to place greater emphasis on the monitoring and tracking of employee crypto transactions and holdings, to ensure they meet regulatory standards set out for securities,” said Will Haggerty, Director of Product at Star. “With the publication of the results from our Crypto & Compliance Survey, we hope to clear up some of the confusion that remains over which digital assets are considered to be securities and which are not. We also hope to guide firms on the implementation of crypto-trading compliance best practices.”
Following are key findings from the Star Second Annual Crypto & Compliance Survey:
Star’s Crypto Pre-Clearance software solution enables firms to monitor the crypto assets their employees are trading, and take the first step toward preventing potential conflicts related to such activity. The software’s capabilities include trade-request pre-clearance: allowing employees who want to trade and sell crypto to do so easily while providing the business with visibility into this activity.
Find a further breakdown of the survey’s findings here.
Star staff will be taking a deep dive into the survey results—and providing guidance on how firms can equip themselves to stay compliant—at the company's Synergy ‘22 events in London (September 27) and Washington, DC (October 23-25). Seats are still available. Learn more here.
About StarCompliance
StarCompliance is a leading provider of employee compliance technology solutions. Trusted globally by forward-thinking companies in 114 countries, Star's future-ready compliance platform delivers on-demand configurability, multi-jurisdictional integrity, and the actionable intelligence you need to monitor for conflicts, meet regulatory obligations and reduce risk. Compliance no longer needs to be complex. Check out Star's intuitive, straightforward UX and give your employees the multi-layered protection they need to comply with confidence. www.starcompliance.com
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