These reports provide insights into the practices, products, and services each regulator believes present potential risks to investors and market integrity in the upcoming year. The FINRA Report furnishes FINRA member firms with a non-exhaustive list of areas that FINRA plans to prioritize in 2021 as part of its examinations. The stated purpose of the letter is to help firms strengthen their compliance, supervisory, and risk management programs. Earlier this week, FINRA revealed its 2021 Report on FINRA's Examination and Danger Monitoring Program (the "Report"). On 1 February 2021, FINRA issued its 2021 Report on FINRA's Examination and Risk Monitoring Program ("FINRA Report") and a bit more than a month later, the SEC's recently renamed Division of Examinations issued its own 2021 Examination Priorities ("Exam Priorities"). On February 17, 2021 the SRO and States Subcommittee of the ABA Securities Litigation Committee hosted a panel of senior representatives from FINRA and in-house legal/compliance departments to discuss FINRA's 2021 Report on Exam Findings and Regulatory Priorities (the "Report"). Law Firms: Be Strategic In Your COVID-19 Guidance... [GUIDANCE] On COVID-19 and Business Continuity Plans. 2016 Regulatory and Examination Priorities Letter. FINRA to ramp up Reg BI exams in 2021 . As part of its routine examinations, FINRA will often coordinate with the MSRB to ensure its members are complying with applicable rules. During past roundtables with Regulators at the Chicago Bar Association, those Regulators have indicated that a firm blaming its vendor is not a valid excuse if a data breach occurs and the Report seems to confirm as much. Each of these documents is quite long, with the FINRA report at 44 pages and the Exam Priorities document at 36 pages, and . With the help of this book, you’ll up your chances of breaking into this field and landing your dream job. WASHINGTON—FINRA announced today that Bari Havlik, EVP and Head of the Department of Member Supervision, plans to retire from FINRA later this year. On February 1, 2021, the Financial Industry Regulatory Authority ("FINRA") published its 2021 priorities (the "FINRA Report"). Firms also failed to limit access to customer information (along with other sensitive data) and failed to train personnel and maintain adequate branch policies, amongst others. FINRA also found that some firms’ financial risk management controls where inadequate and improperly relied on third-party vendors for controls without maintaining “direct and exclusive” control over them. Build a Morning News Brief: Easy, No Clutter, Free! Once such technology that the Report sets off in blue (which apparently indicates that FINRA wants people to read it and, thus, will likely focus on it) is the emergence of new digital platforms with “Game-Like” features.”  FINRA cautions that these platforms, which are reaching a new segment of retail investors and, thus, providing important access to the marketplace, can also represent danger. With all of the above in mind, here are selected highlights from the new combined Report:[5]. It's far from the most difficult FINRA exam, but it might not hurt to study for it just in case. On January 8, 2020, FINRA released its Risk Monitoring and Examination Priorities Letter for 2020. – Alan. Firms should have procedures that permit changes to their “stress test period” from a single time horizon to multiple time horizons, and confirm that their policies have a process for modifying business models in response to stress test results. On February 1, 2021, the Financial Industry Regulatory Authority ("FINRA") released its "Report on FINRA's Risk Monitoring and Examination . FINRA recommended that firms (i) periodically test their controls; (ii) adopt practices for systemic pre-trade “hard” blocks to prevent fixed income trades from breaching ATS thresholds; (iii) tailor erroneous or duplicative order controls to the firm’s business; (iv) develop adequate post-trade controls; and (v) implement processes for reviewing ad hoc adjustments (including the ability to return to original values as needed). MILWAUKEE - Quest CE, premier provider of compliance training and tracking technology solutions, today announced the addition of a new Firm Element course to its e-learning catalog. In the context of credit risk limit changes, FINRA noted that some firms adopted approval and documentation processes that provided for ongoing review of adherence to those limits. Among the primary newer areas of concern are: (1) Regulation Best Interest (Reg BI) and Form CRS; Time: 4:00 pm. On February 11, SIFMA and the SIFMA C&L Society discussed FINRA's 2021 priorities, addressing whether firms are prepared for 2021, and if not, what needs to be done to get there. The U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have each published their annual examination priorities for 2021, signaling areas. Key Investor Issues Outlined in FINRA 2021 Exam Priorities - Part Two. Among other things, the Report identifies the applicable rule and key related considerations for member firm . February 1, 2021. In its Risk Monitoring and Examination Priorities Letter (the "2021 Letter"), FINRA identified several areas of focus for 2021, including: Firm Operations.FINRA will assess firms' compliance with (i) AML regulatory obligations, including FINRA Rule 3310, (ii) cybersecurity and technology governance requirements, including FINRA Rule 4370, (iii) outside business activities and private . Variable Annuities (VAs) – Sales practice concerns around the purchase of VAs are an evergreen topic in FINRA priority letters. Attorney advertising. The Financial Industry Regulatory Authority (FINRA) has recently issued its 2021 Examination and Risk Monitoring Program report, where it addressed several significant topics in four distinct areas: firm operations, communications and sales, market integrity, and financial management. In the context of digital assets, firms should confirm that disclosures “prominently” identify the unique risks and speculative nature of such investments. FINRA's 2021 Report on its Examination and Risk Monitoring Program ("Report"), like its previous annual examination priorities letters, provides the broker-dealer community with insight into FINRA's ongoing regulatory operations. The Series 99 exam is 50 questions, with the majority of these covering knowledge of broker-dealer operations. By continuing to browse this website you accept the use of cookies. As in previous years, the regulator is focusing on variable . Earlier this week, FINRA published its 2021 Report on FINRA's Examination and Risk Monitoring Program (the "Report"). The Report combines two of FINRA's long-standing studies: (a) the retrospective Report of Examination Findings from the prior yr . 2018 Regulatory and Examination Priorities Letter. From recent exams, FINRA noted that certain firms provided some, but not all, of the information required in consolidated displays, and failed to maintain policies that address all components of the Vendor Display Rule and adequate testing. By: Chad Weaver and Tyler Jacobs On March 3rd, the SEC Division of Examinations announced their 2021 examination priorities. © Burr & Forman var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); | Attorney Advertising. This annual report reviews emerging investment risks, as well as areas where FINRA plans to step up their enforcement efforts. Today, the SEC put out its 2021 Exam Priorities, available here . The SEC's 2021 Examination Priorities Provide Firms With a Roadmap to Compliance. EXAMS noted that despite logistical challenges posed by the pandemic, the Division still . With such exchanges becoming the rule instead of the exception, FINRA has, not surprisingly, noted during its exams that firms have failed to encrypt customer personal information (which can be as simple as failing to encrypt and redact new account forms). In order to properly report net capital, firms must (i) ensure the accuracy of their classification of receivables, liabilities and revenue; (ii) accurately record revenue and expenses; (iii) document expense sharing agreements; (iv) have a process to correctly identify “failed to deliver” and “failed to receive” contracts; and (v) assess capital charges for underwriting commitments. Earlier this year, on February 2nd, FINRA released a report of Examinations and Risk Monitoring to provide insight to member firm's compliance programs. Found inside – Page iThis is not only a book to be read, but savored and used." —Dave Ulrich, Rensis Likert Professor, Ross School of Business, University of Michigan; Partner, the RBL Group; Co-author Reinventing the Organization Praise for WORK DISRUPTED ... This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. Key Investor Issues Outlined in FINRA 2021 Exam Priorities - Part Two — Securities Arbitration Lawyer Blog — February 5, 2021 says: February 5, 2021 at 8:19 pm If you are interested in FINRA's comments regarding Regulation Best Interest (Reg BI), Communications with the Public, and Best Execution, you can read Part One of our discussion . The message seems to be that firms can splash up their websites in order to appeal to new consumers but, in doing so, they are not relieved of any of their regulatory responsibilities. On March 3, 2021, the Securities and Exchange Commission's Division of Examinations (formerly the Office of Compliance Inspections and Examinations, now either "the Division" or "EXAMS") announced its fiscal year 2021 examination priorities. 2021-39. We will also discuss industry trends and enforcement developments and their impact on market participants. Segregation of Client Assets and Customer Protection – The Customer Protection Rule requires that firms protect customer funds by segregating assets from their proprietary business and promptly deliver assets to an owner upon request. We hope you find our discussion Build a Morning News Brief: Easy, No Clutter, Free! FINRA 2021 Priorities and Impact on Alternatives. Finra will zero in on online brokerage platforms that use interactive and "game-like" features and step up reviews of firms' compliance with . February 24, 2021 Practice Points Key Takeaways from ABA Panel on FINRA's 2021 Exam Findings and Regulatory Priorities The report revamps two prior FINRA publications—its retrospective exams findings and its priorities letter—into one streamlined document that is required reading for every financial services industry legal and compliance professional. In such circumstances, compliance with Reg BI would result in compliance with Rule 2111 because a broker-dealer that meets the best interest standard would necessarily meet the suitability standard.”. Today's list summarizes their 10 most significant concerns for investment managers and broker-dealers. FINRA recommends that highly automated firms consider how they will manage technology changes and whether their controls (such as “kill switches”) account for market-wide events and potentially aberrant algorithmic activity. Firms subject to examination by these regulators should carefully review both past examination results and the guidance offered in these reports, particularly in the areas . Studying can be hard. We understand. That's why we created this guide. Each section of the test has a comprehensive review created by Test Prep Books. These reviews go into detail to cover all of the Series 7 test. In a break from the past, however, this year FINRA has combined two annual reports – the Report on Examination Findings and Observations, and the aforementioned Risk Monitoring and Examination Program Priorities Letter – into one new document (the “Report”). The new format is more user-friendly for supervision and compliance professionals than the prior reports, setting out for each topic: Throughout, shaded boxes call attention to various Emerging Issues, for example: In past years, FINRA has addressed issues related to Supervision and Senior Investors separately. The complete version of the Report is available here. While the reports are not exhaustive of potential examination priorities—all areas of compliance are open game, after all—they do . Best practices include clearly defining permissible and prohibited forms of communication in policies and procedures, administering up-to-date training that accounts for recent technology developments, and issuing appropriate discipline for infractions of digital communication policies. Late last year, the SEC revolutionized its marketing rules for RIAs bringing them out of the 1960s and into the digital age (my colleague, Denise Fesdjian wrote about it here.) The broad categories of issues addressed in the Report are: DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. The report focuses on four key topics: FINRA suggests that firms use exception and surveillance reports to assist in meeting best execution obligations and conduct reviews on a frequency that, while at least a quarterly, adequately accounts for the nature and scope of a firm’s business. The report also covers some newer focus areas, such as the Consolidated Audit Trail (CAT), Regulation BI (Reg . Report Combines and Replaces Annual Exam and Risk Monitoring Findings Report, Priorities Letter Washington, D.C. - FINRA today published the 2021 Report on FINRA's Examination and Risk Monitoring Program to inform member firms' compliance programs by providing annual insights from FINRA's Examinations and Risk Monitoring programs. FINRA & SEC 2020 Exam Priorities Course Released. Another issue that is here to stay and promises, in fact, to increase in importance over the coming years is cybersecurity. Cost Accounting For Dummies tracks to a typical cost accounting course and provides in-depth explanations and reviews of the essential concepts you'll encounter in your studies: how to define costs as direct materials, direct labor, fixed ... Compliance professionals - clear your schedule. FINRA recommends firms review training to confirm that it properly educates representatives on the type of financial events that need to be disclosed, and confirm that personnel use the proper Rule 4530 codes when reporting information to FINRA. Incorporating SEC & FINRA Exam Priorities into Your Compliance Program. On February 1, 2021, FINRA released its Risk Monitoring and Examination Priorities report for 2021. On 1 February 2021, FINRA issued its 2021 Report on FINRA's Examination and Risk Monitoring Program ("FINRA Report") and a bit more than a month later, the SEC's recently renamed Division of Examinations issued its own 2021 Examination Priorities ("Exam Priorities"). In addition, all firm proprietary trading activity is subject to CAT reporting regardless of the size or type of firm or type of trading activity. Consistent with previous years' priorities, a major portion of FINRA's focus will be on broker-dealers' sales practices. This study guide has helped thousands of MLOs nationwide successfully kick off their careers as state-licensed loan originators by delivering critical information - covering the topics on the most recent version of the NMLS content outline ... Communications with the Public – FINRA rules require that firms’ communications with the public must be fair and balanced and not misleading. Copyright © var today = new Date(); var yyyy = today.getFullYear();document.write(yyyy + " "); JD Supra, LLC. This update summarizes those priorities with the underlying rules and available guidance for the sale practice topics FINRA will focus on this year. In its 2021 report, FINRA selected those priorities "that impact compliance programs across a large population of member firms." As was the case with its COVID guidance, FINRA promises to update the industry as information is gathered and priorities determined. FINRA 2021 Exam Results and Priorities. The Division of Examinations (the Division) (formerly known as the Office of Compliance Inspections and Examinations, or OCIE) of the U.S. Securities and Exchange Commission (SEC) released its annual list of 2021 Examination Priorities on March 3, 2021.. - Alan. FINRA recently published its "Report of FINRA"s Examination and Risk Monitoring Program," covering topics such as Regulation Best Interest, cybersecurity, private placements, advertising and consumer protection. Books and Records – Member firms should review vendor contracts to confirm that their agreements provide for compliance with recordkeeping requirements, Electronic Storage Media (ESM) formatting standards and notification requirements. While we all hope COVID will soon be a distant memory, Reg BI is here to stay, so FINRA’s updates warrant further watching. Consolidated Audit Trail (CAT) – Under the new CAT regulations, all member firms that receive or originate orders in National Market System (NMS) stocks, over-the-counter (OTC) equity securities or listed options must report certain data to CAT. Cybersecurity and Technology Governance – Newfound reliance on remote, work-from-home technology combined with increasing customer demand for convenient and on-demand account services presents member firms with an ever-changing landscape of cybersecurity risks such as system-wide outages, email and account takeovers, fraudulent wire transfers, ransomware, and “imposter” websites. Series 7 Study Guide: Test Prep Manual & Practice Exam Questions for the FINRA Series 7 Licence Exam Developed for test takers trying to achieve a passing score on the Series 7 exam, this comprehensive study guide includes: -Quick Overview ... FINRA's 2021 Exam Priorities Still Focus on Variable Annuities. The report, which sits at 46 pages in length, identifies specific areas of regulatory focus along with applicable rules and considerations, noteworthy . Is Finra's And The Sec's 2021 Exam Priorities A Blueprint For Claimants' Attorneys? The Securities and Exchange Commission's Division of Examinations today announced its 2021 examination priorities, including a greater focus on climate-related risks. "As always, FINRA will take appropriate action in the event we observe conduct . The report consolidates FINRA's Risk Monitoring and Examination Program Priorities Letter, a letter that identified areas of regulatory concern for the upcoming year and the Report on Examination Findings and . Havlik will be succeeded by Greg Ruppert, who currently reports to Havlik and serves as EVP and leader of FINRA's National Cause and Financial Crimes Detection Program (NCFC), on November 1st. This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. FINRA's 2021 Exam Priorities. As technology changes, the way that firms communicate with their customers has also changed. Posted on June 14, 2021 by admin. FINRA recently issued its 2021 Report on FINRA's Examination and Risk Monitoring Program. As with other topics in the Report, firms should also be cognizant of the need to test the accuracy of data feeds and other inputs used for those automation tools. FINRA recommends that firms use automated systems to detect trends around account openings, employ both documentary and non-documentary methods for customer identification, and train both AML and non-AML staff on the requirements to report a range of potentially suspicious activity. In the Report, FINRA highlights the importance of addressing potential conflicts of interest in order-routing decisions and the need to tailor the nature of the best execution reviews to the firm’s business (i.e. Best practices in high-risk areas will be covered for firms of . It's the news we all wait on pins and needles for - the SEC and FINRA annual examination priorities letters. FINRA suggests that firms consider whether their cybersecurity governance programs adequately address those emerging risks, including whether firms’ testing functions include reviews of (i) vendors’ controls; (ii) pre-production environments for new technology rollouts; and (iii) trading algorithm functionality in periods of market dislocation. All rights reserved. In the Report, FINRA stresses the importance of developing AML programs tailored to a firm’s unique business risks and that are subjected to regular, independent testing. Found inside – Page 260However, no member may make any statement or in any way imply that FINRA approves or endorses (“FINRA does not approve or ... An investor who adopts a defensive investment strategy has safety of principal and interest as a top priority. Some hot areas with a pandemic twist include BCP/DR, fintech, and ESG. Ohio Lawyers May Only Say They Are Specialists in Fields of Law Designated By the State Supreme Court, [Webinar] Environmental Due Diligence in Real Estate Transactions: Phase II - September 15th, 2:00 pm - 3:00 pm EDT, Colorado Passes New Comprehensive Consumer Data Protection Act. Earlier this year, the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) published their annual examination priorities letters (the Priorities Letters or the Letters). In other words, you have to follow Reg BI and if you follow Reg BI, you are meeting suitability so Reg BI is the determinative consideration. Firms that permit texting, social media and other forms of digital communication by associated persons should confirm that their policies and procedures account for the specific recordkeeping and supervisory challenges presented by those forms of communication. [1] https://www.finra.org/media-center/newsreleases/2021/finra-publishes-2021-report-finras-examination-and-risk-monitoring, [2] https://www.finra.org/rules-guidance/guidance/reports/2021-finras-examination-and-risk-monitoring-program#top. In addition, FINRA recommends that representatives recommending exchanges provide detailed, written rationales for the exchange and require that supervisors verify the information provided for both the existing and proposed VA. Firm policies should also address VA buyouts and train representatives on the potentially higher fees and loss of benefits when such events occur. It is about 40 pages long and covers a lot of topics. Anti-Money Laundering (“AML”) – Anti-money laundering continues to be a perennial topic for regulators’ priority letters, and 2021 will be no different. January 22, 2019. FINRA 2021 Priorities & Areas of Focus for Private Client Firms . FINRA 2021 Exam Priorities: Innovations and Regulations For years FINRA has shared its priorities for the coming year, and 2021 was no exception. While the standard sounds simple, its implementation has caused heartburn in CCOs across the country as they struggled to understand how FINRA will interpret BI differently than suitability. The long-awaited 2021 Examination Priorities from the Securities and Exchange Commission's (SEC) Division of Examinations was recently released. Found inside14. FINRA 2016 Regulatory and Examination Priorities Letter (accesible online en https://www.finra.org/sites/default/files/2016-regulatory-and-examinationpriorities-letter.pdf). 15. FINRA Targeted Examination Letter on Establishing, ... The recently issued 2021 Report on FINRA's Examination and Risk Monitoring Program (the "Report") replaces, and combines, two previously published FINRA reports - The Report on Examination Findings and Observations as well as the Risk Monitoring and Examination Program Priorities Letter. Bill St. Louis, FINRA's Senior Vice President and Firm Group Leader, discussed both FINRA's 2021 exam priorities with respect to Reg BI and Form CRS, as well as FINRA's broader exam findings and priorities going forward affecting private client firms. In 2021, FINRA will focus regulatory efforts on firms that offer “zero commission” trades, and evaluate whether those firms use different order-routing practices for those products or rely on changes to other business lines (e.g. From the Desk of Jim Eccleston at Eccleston Law LLC: The Financial Industry Regulatory Authority (FINRA) expects real progress in compliance policies and procedures around Regulation Best Interest. Unfortunately, CCOs will have to continue purchasing their extra-strength Tums. The remaining portion is dedicated to ethics and professional conduct in the industry. Earlier this month, both the SEC and FINRA published their exam priorities for 2020. Best Execution – FINRA best execution rules require that firms obtain adequate execution quality for their customers; if a firm does not review every trade for execution quality, reviews must be “regular and rigorous.” A frequent topic of priorities letters, best execution presents unique challenges for firms offering customers an array of security types across different trading systems. Havlik will be succeeded by Greg Ruppert, who currently reports to Havlik and serves as EVP and leader of FINRA's National Cause and Financial Crimes Detection Program (NCFC), on November 1st. Below, we summarize key takeaways for each of the topics identified in the Report. The SEC and FINRA examination priorities reports provide market participants with a useful road map of the issues on which these regulators are most likely to focus in 2021. To embed, copy and paste the code into your website or blog: Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: [HOT] Read Latest COVID-19 Guidance, All Aspects... [SCHEDULE] Upcoming COVID-19 Webinars & Online Programs, [GUIDANCE] COVID-19 and Force Majeure Considerations, [GUIDANCE] COVID-19 and Employer Liability Issues. [4] See FINRA Regulatory Notice 20-16 for guidance on operating during the pandemic. March.10.2021. The Report addresses key topics from . Law Firms: Be Strategic In Your COVID-19 Guidance... [GUIDANCE] On COVID-19 and Business Continuity Plans. The report provides guidance on FINRA's current examination priorities and describes its examination findings during the past year. As certain representatives may have received payment from the Paycheck Protection Program (PPP) during the pandemic, FINRA suggests that firms review publically available data on such loans to determine if a registered representative received one for an undisclosed OBA. The 2021 Report on FINRA's Examination and Risk Monitoring Program has officially been released. examination priorities for fiscal year (FY) 2021, marking the 9th year of their publication. Firms should also retain documentation supporting both their review of the questionnaires/attestations and monitoring of any limitations for approved OBA/PST activity. Overview. During compliance reviews, firms, naturally, tend to look within to figure out how they can improve internally. FINRA Announces Its 2021 Risk Monitoring and Examinations Report. Based on recent exams, FINRA suggests that firms develop comprehensive in-house control frameworks that identify credit exposures in real-time environments and maintain a governance process for approving new, material margin loans. Now, FINRA notes that it intends to “expand the scope” of Reg BI / CRS exams in 2021. Join IBDC-RIAC Alliance Members for a frank discussion about what FINRA and the SEC are focusing on during their firm audits and investigations in 2021. FINRA’s posture is likely due to the fact that Reg BI is relatively new, in conjunction with the difficulties of regulating during a world-wide pandemic. FINRA recommends that firms review their WSPs to confirm the adequacy of both large trader information reporting controls and large trade ID disclosure requirements. To embed, copy and paste the code into your website or blog: Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: [HOT] Read Latest COVID-19 Guidance, All Aspects... [SCHEDULE] Upcoming COVID-19 Webinars & Online Programs, [GUIDANCE] COVID-19 and Force Majeure Considerations, [GUIDANCE] COVID-19 and Employer Liability Issues. FINRA 2021 Exam Results and Priorities | Burr & Forman. 2020 EXAMINATION PRIORITIES | 1 MESSAGE FROM OCIE'S LEADERSHIP TEAM The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) is pleased to announce our examination priorities for fiscal year (FY) 2020, marking the 8th year of their publication. The Division of Examinations (the Division or EXAMS) is pleased to announce our . FINRA 2021 Priorities. On January 9, 2020, FINRA released its 2020 Risk Monitoring and Examination Priorities Letter. FINRA also highlighted the importance for firms to collaborate with their clearing firms to confirm the proper flow of required asset information and to document responsibilities (at the firm and clearing firm) in the event of fails and other net capital issues. DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. In the Report, FINRA highlighted the importance of these rules in the context of new products (such as digital assets) and digital communication channels. Based on observations from prior exams, FINRA noted that certain firms failed to accurately disclose all of the required transaction information, and failed to realize that certain forms of debt (such as structured notes) are also within the scope of the disclosure rules. , © 2021 Bressler, Amery & Ross, P.C on March,. ] https: //www.finra.org/rules-guidance/guidance/reports/2021-finras-examination-and-risk-monitoring-program # Top practical tips and considerations resulting from &! For investment managers and broker-dealers securities in the industry commission income Annuities, Outside Business concerns investment! Take appropriate action in the Report indicated that data breaches remain an issue in FINRA 2021 Exam.... From FINRA & # x27 ; s recent organizational changes FINRA ’ s Examination and Risk Monitoring Examination... 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Your dream job that everyone deserves scope ” of Reg BI exams in 2021 finra 2021 exam priorities. Firms ’ communications with the FINRA Risk Monitoring Program has officially been released ), Regulation BI ( Reg )... Priorities of the Report indicated that data breaches remain an issue reminded firms review... Of broker-dealer operations require that firms communicate with their specific Business model usage, store tokens! Website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and sharing. Join Oyster CEO Buddy Doyle and consultants Ed Wegener, Evan Rosser considerations... Sales practice concerns around the purchase of VAs are an evergreen topic in FINRA priority.! Each of these covering knowledge of broker-dealer operations exams ) is pleased announce. Online en https: //www.finra.org/rules-guidance/guidance/reports/2021-finras-examination-and-risk-monitoring-program # Top Priorities - Part Two, we will also industry! Exam Results and Priorities determined Report finra 2021 exam priorities guidance on FINRA & # ;. A broker-dealer would be required to comply with both Reg BI ) is quite long, with the of... Their customers has also changed enforcement developments and their impact on market participants tackling FINRA s... We finra 2021 exam priorities key takeaways for each of the Letter is to help firms strengthen their,. In mind, here are selected highlights from the new Report weaves into. ) and investment advisers ( fiduciary duty is cybersecurity, after all—they do has officially been.... Summarizes those Priorities with the majority of these documents is quite long, with the to.
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