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On February 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) released its “Report on FINRA’s Risk Monitoring and Examination Activities.” The Report combines two of FINRA’s long-standing reports: (a) the retrospective Report of Examination Findings from the prior year; with (b) its forward-looking Examination Priorities Letter.
The new format is more user-friendly for supervision and compliance professionals than the prior reports, setting out for each topic:
Regulatory Obligation with citation to relevant rules;
Related Considerations, formatted as questions firms should ask themselves;
Exam Findings and Effective Practices, calling out the good and the bad FINRA found in its prior year’s examinations; and