Your SlideShare is downloading. ×
0
Monica papendick lexpert casl challenges in financial institutuions
Monica papendick lexpert casl challenges in financial institutuions
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Monica papendick lexpert casl challenges in financial institutuions

109

Published on

Monica papendick lexpert casl challenges in financial institutuions

Monica papendick lexpert casl challenges in financial institutuions

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
109
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. CASL Messaging Provisions and Challenges in Specific Vertical Sectors: Challenges and Solutions in Financial Institutions Presented by: Monica Papendick April 30, 2014
  • 2. 4/14/2014 CASL: Top Challenges in Financial Institutions and Strategies for Managing Them Operational and Leadership Challenges: Communication to Executive Leadership about CASL: • Explain CASL in one sentence • Explain “why” in a relevant way • Aim for consistent messaging “up the chain” about risks, recommendations and project progress Project Management: • Timing (compliance deadline v. uncertainty about requirements) • Enterprise v. line of business approach • Role sort: lines of business, project leads, Legal Department, Compliance • Approach for “current state” (inventory and analysis) • “Legal Log” – centralized repository for questions, recommended approaches and best practices • Compliance governance structure post July 1, 2014 Legal Challenges: Unclear Legislation Re Messaging Provisions – Interplay between exemptions and Section 6.6. – Scope of exemptions and partial exemptions: decide which ones are worth leveraging and leverage them consistently – Collecting express consent: mobile sales forces, investment advisors, trade shows: be creative! – Due diligence – best practices v. practical: consider whether communication is ‘one to one’ or ‘one to many’ Risk Assessment and Risk Mitigation Strategies – Documenting risks (interpretation risks, operational risks) and mitigation strategies – Technology solutions v. manual processes and procedures – how can compliance can risks be mitigated? – “Iterative” approaches to CASL compliance – Decision trees, processes and procedures, training programs – Governance 2

×