Lee Walton

On October 4th & 5th, Behavox participated as lead sponsor at the 1LoD Energy Trading Surveillance Europe Deep Dive, joining 2 virtual roundtables to discuss a number of topics that helped attendees further their understanding of how to navigate the sometimes tricky and convoluted compliance landscape, surveillance capabilities, and how AI can aid them in their compliance efforts.

Attendees enjoyed a variety of keynote speeches, debates and roundtables with Europe’s leading energy companies and key regulators throughout the two day conference, focusing on:

  • Best practices for trade and communications monitoring.
  • Developing and executing a European focused strategy to detect, mitigate and treat compliance risks.
  • How to prepare for the internal and external regulatory audits including FCA & RDS board level audit committee presentations.
  • How to perform a risk current state assessment to get an accurate picture of risk priorities and existing compliance coverage.

On Day One, October 4th, attendees were joined by Nicholas Duke, Head of Subject Matter Expertise at Behavox to hear his expert views at an exclusive virtual roundtable on ‘Building a Compliance Surveillance Function that Navigates the Fragmented Regulatory Landscape’. 

Key discussion points from this roundtable included:

  • While energy market regulation is complex and fragmented, expectations on surveillance teams are clear and regulators are increasing their enforcement intensity.
  • Firms need to abstract some of that complexity by taking a step back, considering the intention behind the regulations and assessing their business and the products they trade through that lens, and through a standardized market abuse assessment – regulatory implications, mitigants and existing controls will surface through the assessment process
  • It is important to have a formal process in place for identifying, analyzing and responding to not just regulatory changes but also enforcement actions, ongoing investigations, risk alerts and speeches. The devil is in the detail for surveillance and the detail comes in many forms.

The following day, October 5th, James Burgess, Compliance SME joined a lively virtual roundtable to discuss ‘Buying vs. Building Surveillance Capabilities’.

Participants at this roundtable unanimously agreed that it was better to buy rather than build for an ecomms solution, whereas on the trade surveillance side people were more inclined to build themselves.If you enjoyed this event and would like to learn more about how advanced AI and Machine Learning can revolutionize your compliance efforts, simply keep an eye on our events page and register for any of the summits, conferences or workshops such as the upcoming summits that will be held in Toronto, Boston, New York & Chicago!