As a RegAdvisor Pro subscriber, can (or should) we unsubscribe from other sources of Federal regulatory or financial services information?

As a RegAdvisor Pro subscriber, can (or should) we unsubscribe from other sources of Federal regulatory or financial services information?

The answer is, you can discontinue all other subscriptions and still have the information and analysis needed to remain compliant with Federal regulatory requirements. Whether you should do so is a risk-based decision unique to each organization. It can vary even among individuals at the same organization, depending upon their personal preferences and work styles.

Remember that RegAdvisor Pro provides analysis and implementation plans for Federal regulatory changes that affect your institution’s compliance management system (CMS). Your organization’s size, complexity, business objectives and operations are variables that affect what you and your team wish to receive. A good starting point is to consider the primary and secondary sources you rely on today.

Primary Sources

RegAdvisor Pro covers primary sources only.  A primary source is any issuance from a Federal regulatory agency or association from the list below.  

• CFPB (Consumer Financial Protection Bureau)
• FRS (Federal Reserve System)
• FDIC (Federal Deposit Insurance Corporation)
• OCC (Office of the Comptroller of the Currency)
• NCUA (National Credit Union Association)
• FinCEN (Financial Crimes Enforcement Network)
• FFIEC (Federal Financial Institutions Examinations Council)
• OFAC (Office of Foreign Assets Control)
• NACHA (Electronic Payments Association)
• FCC (Federal Communications Commission) - limited applicability; i.e. TCPA
• FTC (Federal Trade Commission)

When an item is issued from one of these agencies, the Regulatory Operations Center® provides a detailed analysis as well as recommended action steps, if appropriate. If you are getting news feeds from these agencies today, there’s a good chance they will be duplicative to what you receive from RegAdvisor Pro. Most clients run the processes in tandem for their first 30 days or so while they get comfortable, then cancel their subscriptions to other primary sources.
 

Issuances from other entities, such as the IRS and the SEC, are outside of our scope of coverage unless they directly overlap with a regulation issued by one of the entities listed above.  

Secondary Sources

Secondary sources that may report items of interest (and/or analysis of them) include trade associations, industry groups, law firms, accounting firms, media outlets and trade or general circulation publications. Secondary sources rely on interpretation and editorial content from experts, and while such sources may be reputable and authoritative, they do not represent official Federal regulatory agency analysis or guidance. Therefore, these secondary sources are outside the scope of coverage of RegAdvisor Pro. If you wish to consider alternate interpretations from secondary sources other than Continuity, you’ll want to decide how and how often you’ll engage with their materials.

In deciding whether to unsubscribe from some or all of your current sources, consider:

• Do you want to know “everything” that’s going on in the financial services industry, whether or not it applies to your organization and even if no action is required? If this describes you, you may decide to retain all of your subscriptions in addition to getting the analysis and implementation suggestions from Continuity.
• Do you want to know only about those Federal regulatory changes that impact your organization? If you’re someone who only wants what is certain to affect your organization in particular, you may decide to unsubscribe from duplicative or non-essential information feeds.

As mentioned above, if you are new to RegAdvisor Pro, it’s prudent to retain your current subscriptions briefly, then decide which to cancel after you’re more familiar with the scope of information you receive from Continuity.