The Compliance Digest

Get expert compliance tips and up-to-date regulatory news.

FINRA Pressed for Sexual Harassment Data at Firms

Senator Elizabeth Warren wants regulators to make sure Wall Street isn’t dodging the #MeToo movement. Last month, the Massachusetts Democrat and two other senators asked FINRA and the SEC for data on the prevalence of sexual harassment abuse in the industry. Read More

Top Five FINRA Fines from 2017

While fines issued by FINRA may have dropped significantly in 2017, according to Eversheds Sutherland’s annual report, 2017 was a record shattering year for restitution, resulting in the fourth highest total sanctions assessed by FINRA over the past 10 years. Read More

FINRA Reveals Examination Priorities for 2018

Earlier this month, FINRA released its annual regulatory and examination priorities letter, which drew on some reoccurring issues firms should pay close attention to in 2018, including high-risk brokers, fraud and cybersecurity. Additionally, the regulator flagged several uncharted areas of focus, including cryptocurrencies, securities-backed lines of credit and business continuity planning. Read More

[Slideshow] FINRA Releases First Ever Exam Findings

Last Wednesday, FINRA released its first ever examination findings report, which summarizes common risks unveiled during broker-dealer audits. Read More

Firm Fined $20K for Inadequate Policies & Training

In this month’s FINRA Disciplinary Actions Notice, a firm from Red Bank, New Jersey was censured, fined $20,000, and required to review and revise its systems, policies and procedures and training with respect to the sale of leveraged, inverse and inverse-leveraged exchange-traded funds (non-traditional ETFs). Read More

FINRA Fines on Pace to Drop 73% in 2017

FINRA appears to be softening its enforcement actions in 2017, as it's on pace to deliver only a fraction of the fines it reported last year. Read More

FINRA Releases Video Series on Cybersecurity Pitfalls

In a three part video series, FINRA provides guidance on common deficiencies it has identified during its cybersecurity examinations of member firms. These failings include branch controls, data protection and password security and act as a to-do list of things broker-dealers should do to ensure their cybersecurity protocols are up to snuff. Read More

Common FINRA Exam Deficiencies for Small Firms

This article summarizes some of the most common rule violations for small firms, as outlined by FINRA regulators. Read More

Tips on How to Prepare for Your Next FINRA Exam

FINRA exams are challenging for everyone, however, there are several steps firms can take to better prepare for an onsite investigation. Read More

Key Takeaways from the FINRA Conference

More than 1,000 attendees and approximately 150 speakers attended FINRA’s annual conference back in May – including a team from Quest CE who took part in the three-day exhibitor fair. Read More