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Securities Compliance Podcast: Compliance in Context

Podcast Season 3 Episode 5

On Episode 5 of Season 3 of the Securities Compliance Podcast: Compliance in Context, host Patrick D. Hayes focuses his attention on gamification—what is it, why are regulators and investors concerned about it, what are the benefits of it, and most importantly, what are the key things you should be considering from a compliance perspective?  In the Headlines section, Patrick looks at Chair Gensler’s Spring 2022 Agency Rule list, what it means, and the overall impact to the industry. And finally, Patrick wraps up today’s show with another installment of Outtakes where an old compliance violation takes on a brand new look in crypto. 

Season 3, Episode 5 Topics:


  • Introduction to gamification
  • Background on relevant factors affecting gamification
  • Key themes of Tanner’s law review article
  • The Gamestop phenomenon
  • Consumer protection and market stability versus freedom of choice and the democratization of the financial markets
  • Retail traders versus institutional finance
  • Key harms of gamification and impact of Reg BI
  • Key benefits of gamification
  • How gamification impacts the future of the financial markets


12:34 – “There is a distinction in academia (based on what I’ve read researching my article)between “gamification” (you know, in air quotes) and, more broadly, digital engagement practices. ... DEPs are a little broader than gamification, you know, robo-advisors would fall into the DEPs. Anything that’s more, pressing the future edge of aligning digital technology with brokerage services or investment advisor services.” – Tanner 

17:28 – “Based on my research and what I’ve seen, it depends on who you ask. I think you bring up a great point in that gamification, there are layers of competing interest and so, right off the top, consumer protection versus democratization is the headline one, if you will. Then there is another layer of (you, kind of, hinted at this) retail trader versus institutional finance.” – Tanner

About the Securities Compliance Podcast: Compliance in Context

Introducing the Securities Compliance Podcast: Compliance in Context presented by Calfee, Halter & Griswold and the National Society of Compliance Professionals and hosted by Patrick D. Hayes, Partner and leader of Calfee's Investment Management practice.

Designed as a personal master class for the securities legal and compliance professional, this podcast embodies Patrick’s passion to help you put Compliance In Context™ by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.

Listeners will find the podcast on Apple Podcast, Google Podcast, Spotify and Stitcher.

The opinions expressed by guest speakers and panelists during Securities Compliance Podcasts may not necessarily reflect the viewpoints of the attorneys and professionals of Calfee, Halter & Griswold LLP or its subsidiaries or affiliates. Calfee’s educational content is intended to inform and educate readers about legal developments and is not intended as legal advice for any specific individual or specific situation. Please consult with your attorney regarding any legal questions you may have. With regard to all content including case studies or descriptions, past outcomes do not predict future results.

Media Contact

Susan M. Kurz
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216.622.8346 (office)
513.502.8950 (mobile)

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