The debate over increased regulatory oversight within the myriad financial services sectors has raged on for years, but with considerably more vigor since the financial crisis at the end of the last decade.
While many companies in the financial services sector scramble to get their ducks in a row in the face of regulations that are increasing in both number and complexity, PR professionals have a great opportunity to prove their value.
With FATCA (July 1, 2014) and AIFMD (transitional period ending July 22, 2014) – the two majors to come into effect in recent weeks – there is a huge audience out there for content providing guidance and best practice on how best to journey the road to compliance.
The sheer number of regulatory deadlines, milestones and anniversaries provides plenty of reasons for PR pros to connect their clients with reporters interested in writing about topics that affect their readers and who are looking to speak with those that are knowledgeable and can offer first-hand experience in compliance.
In recent months, Aspectus PR’s clients have spoken about regulatory topics ranging from how effective data management is essential in FATCA compliance, to the importance of transparency in regulating global FX markets, to tips for preparing for your first SEC examination, among others. Much of this client coverage came down to just a few key things to remember:
- Keep track of deadlines and go-live dates for important industry regulation
- Speak with your clients regularly about the issues and challenges they face; after all, if they are facing these tests, it’s likely that others in the industry are as well
- Get out ahead of breaking news by having different client views at the ready. That way, key reporters know that they have an expert source the moment they need them – regardless of the angle taken
Whether it’s FATCA, AIFMD, the JOBS Act, Dodd-Frank or the Volcker Rule, regulation can be a blessing in disguise for those PR professionals ready and waiting to offer their clients up as experts once the news hits.