Markets Services Case Studies

Kroll assists financial services firms, trading venues and technology providers to comply with regulatory obligations and meet industry best practice in relation to all aspects of markets, pre-trade and post-trade regulatory reporting and surveillance. Our multidisciplinary Markets team consists of former regulators and industry practitioners with deep relevant experience across multiple jurisdictions and knowledge of trading markets, financial product, compliance and operations, and complex IT infrastructure.

Controls Room Review of a Top Tier Investment Bank for the Hong Kong Securities and Futures Commission

The Hong Kong Securities and Futures Commission (SFC) began enforcement action against a top tier US investment bank due to a self-reported case of suspected insider dealing at the institution. The SFC instructed the bank to undertake an independent review of its control room systems and controls to verify that the bank’s extensive remediation program had been effective. 

Complex global financial institutions require trusted advisers with a deep knowledge of the sector, the issues and the ability to work across multiple jurisdictions. That is exactly what Kroll was able to deliver for the bank, completing the required review smoothly in eight weeks with a small team of experienced financial services regulatory experts.

Kroll's experts interviewed the bank’s control room staff in both the US and UK on an individual basis, as well as interviewing the heads of the trading desks. The Kroll team mapped the remediation work already undertaken against the standards expected by the SFC, identifying any weaknesses in the overall process map. Kroll’s practical report was then issued in a timely manner to the SFC in conjunction with the bank, auditing progress to date and recommending the future roadmap and areas for improvement.

Project outcomes

As a result of Kroll’s work:

  • The bank was able to demonstrate to the enforcement division of the SFC that it was properly managing market abuse risks and had implemented robust controls to mitigate any conflict of interest
  • The bank worked with Kroll to respond at speed and at scale to meet regulatory requirements across multiple markets
  • The project was delivered on time and on budget, giving the client a robust set of processes and a roadmap for future improvements to its risk and regulatory strategy

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