Future of Work

Firms are thinking critically about the future of the workplace, with many already implementing hybrid or remote work arrangements for certain populations.

There are benefits to such arrangements, including the ability to attract diverse talent by not being tied to a particular location and offering greater flexibility to manage work and personal obligations.

The securities industry operates in a highly regulated environment with rules governing the registration and supervision of office locations. Those rules are decades-old and were based on physical office locations. Even as regulators themselves have adapted successfully to remote working, there’s a hesitancy among some to modernize the regulatory regime to accommodate a remote or hybrid workforce.

SIFMA believes regulators must collaborate with the industry to transition to a “new normal” and to address any concerns. Firms of all sizes were already in a years-long process of investing in and upgrading their technological and supervisory capabilities and have found that those investments also support a remote workforce while complying with regulations designed for investor protection.

The industry continues to see the value in in-person interactions, especially the camaraderie and culture-building it offers; however, SIFMA believes that different models can coexist. The industry should be able to adapt to the needs of customers and the workforce, have regulations that reflect the workplace of the future, and have face-to-face requirements as the business wants and the risks warrant.

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