by James Pfeiffer | Jan 23, 2020 | Risk and Compliance
In January 2020, the Financial Industry Regulatory Authority (FINRA) released it’s 2020 Risk Monitoring and Examination Priorities Letter highlighting areas of focus for their risk monitoring, surveillance, and examination programs as well as new and emerging...
by Kristefor Lysne | Aug 23, 2019 | Risk and Compliance
Customer Asset Transmit Rules One of our clients came to us with a problem; how to comply with customer asset transmit rules for managed money and mutual funds. Our solution: a workflow module for tracking, monitoring, and reporting on the location and status of...
by James Pfeiffer | Jun 3, 2019 | Risk and Compliance
The Financial Industry Regulatory Authority (FINRA) regulates 3,600 member firms and nearly 630,000 registered reps and conducts over 2000 member firm examinations each year. FINRA conducts routine examinations of broker-dealers checking for compliance with industry...
by James Pfeiffer | Apr 18, 2019 | Risk and Compliance
Background In January of this year, FINRA launched an initiative to curb the sales of high cost 529 plan funds to investors. Specifically, they are reviewing the share classes recommended to these investors and if these recommendations met the suitability standard...
by James Pfeiffer | Aug 27, 2018 | Risk and Compliance
Trusted Contact Rules In 2018 FINRA introduced the trusted contact rule. It requires that broker-dealer firms make reasonable efforts to identify a “trusted contact,” a person to contact if the firm has a concern that the client is incapacitated or is the target of a...
