Friday, February 5, 2021 On February 1, the Financial Industry Regulatory Authority (FINRA) published its 2021 Report on FINRA’s Examination and Risk Monitoring Program (Report). The annual Report summarizes various findings and observations from recent FINRA examinations of its member firms on a range of topics and notes certain areas of the future focus of FINRA examinations in 2021. These included the following: Regulation Best Interest (Reg BI) and Form CRS – The Report notes FINRA’s focus on assessing whether member firms have established and implemented policies, procedures, and a system of supervision reasonably designed to comply with Reg BI and Form CRS. The Report notes that in 2021, FINRA intends to expand the scope of Reg BI and Form CRS reviews and testing to effect a more comprehensive review of firm processes, practices and conduct.