Control rooms: practice and procedure — part one …

Control rooms: practice and procedure part one Nikolas Holttum Nik Holttum is a UK solicitor and currently Director, Legal & Compliance for the European offices of BMO Financial Group Who needs a Control room ? The simple answer is: any financial services firm that is running both a large securities firm, or asset management arm, and a banking arm that will be regularly in receipt of inside information. To manage information flows and avoid any appearance that sensitive information is being abused, Chinese walls must be erected internally. Other types of organisations are, of course, expected to keep track of inside information. If they are not an integrated firm, however, the burden of record keeping and monitoring will be lower. Why? Regulators expect integrated firms to have proper systems in place to ensure that inside information available to the banking side does not leak into, or is abused by, the securities side.

Control rooms: practice and procedure — part one Nikolas Holttum Nik Holttum is a UK solicitor and currently Director, Legal & Compliance for the

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