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Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement,...
FINRA reminded firms of their obligation to maintain a sufficient supervisory system for activities outsourced to third-party vendors.
Thursday, February 18, 2021 On Feb. 1, 2021, the Financial Regulatory Authority (FINRA) released its 2021 Report on FINRA’s Examination and Risk Monitoring Program (Report), in which it identifies its areas of examination focus for FINRA member firms (Firms) in 2021. The Report replaces the prior format for examination focus, the Risk Monitoring and Examination Program Priorities Letter. In the introduction to the Report, FINRA acknowledges the ongoing COVID-19 pandemic, its regulatory notice in response, and the challenges Firms have faced in response. The report stresses, how...
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, proce...