According to a new study by Eversheds Sutherland, FINRA disciplinary actions show a surge in enforcement activity in 2020. What caught my eye was a dramatic increase in fines related to variable annuity cases—a 1062% increase! To put that in context, overall fines increased to $57 million from $40 million in 2019, a 43% increase. […]
This February, FINRA released the 2021 Report on its Examination and Risk Monitoring Program. The Report is designed to inform member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations. The Report combines and replaces the two previously published annual reports: Examination Findings and Observations and the Risk Monitoring and Examination Program […]
Wintrust Wealth Management invests in technology enhancement benefitting its compliance program by delivering a more agile and efficient analysis of direct business transactions. Minneapolis, M.N. – Jan. 19, 2021: Terrapin Technologies today announced a new trade surveillance solution in partnership with Wintrust Wealth Management. The trade surveillance solution provides compliance departments the capability to monitor […]
Best Interest Standard of Conduct The Regulation Best Interest (Reg BI) compliance deadline is just around the corner – June 30, 2020, to be exact. One of the many challenges is obtaining a solid grasp of Reg BI and it’s numerous implications (it certainly doesn’t help that the entire rules and guidance package from the […]
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 areas. As previously outlined in a December 2019 press release, FINRA President and CEO Robert Cook noted that significant changes had been […]