SEC Cybersecurity Policy: New Rules for Investment Advisers Possible

The next evolution in SEC cybersecurity policy could come Wednesday when commissioners consider whether to propose new rules for registered investment advisers and investment companies. Commissioners will consider staff recommendations for addressing cybersecurity risk management for investment advisers and investment companies as one of the agenda items for their Feb. 9 meeting. The commission will also consider related amendments to certain rules regarding adviser and fund disclosures under the Investment Advisers Act of 1940 and […]

Read MoreMore Tag

FINRA CEO to SIFMA Audience: Protecting Investors and Addressing Workplace Evolution are Priorities for 2022

Investor protection remains atop FINRA’s priorities for 2022. “There will be a theme around retail-investor protection,” CEO Robert Cook said, during a recent webinar hosted by SIFMA. And FINRA will proceed with some existing initiatives as well as launch new efforts in 2022, he told SIFMA President & CEO Kenneth Bentsen, Jr., in a virtual Q&A session. FINRA will also revisit rules and regulations in light of changes brought about by the COVID-19 pandemic and […]

Read MoreMore Tag

FINRA Weighs Lasting Impact of Remote Work

FINRA is preparing for a “new normal” in which firms will work remotely even after the pandemic passes. For example, FINRA is considering changing how it defines “branch office” and “office of supervisory jurisdiction” for supervision and inspection purposes based on industry feedback. “Many” commenters that responded to a request for feedback on lessons learned during the COVID-19 pandemic urged the regulator to revisit the definitions under FINRA Rule 3110 because firms have shifted to […]

Read MoreMore Tag

FINRA Extends Remote Branch Inspections Until End of 2022

FINRA has proposed to extend temporary relief allowing firms to conduct their 2022 branch inspections remotely through year-end. If approved by the SEC, the extension of FINRA Rule 3110.17 would extend COVID-related branch office inspection relief that is now scheduled to end on June 30. “The proposed additional six-month extension would provide further clarity to firms on regulatory requirements and account for the time needed for many firms to carefully assess when and how to […]

Read MoreMore Tag

Leverage Pre-Audit Questionnaires to Improve Efficiency and Reduce Risk of Non-Compliance

The introduction of RegEd’s Pre-audit questionnaire (PAQ) functionality for Audit Management has enabled compliance and audit professionals to ensure that all pertinent data collected via questionnaires is automatically populated, reducing the need for manual transfer and significantly improving audit cycle time, while reducing the risk of input error. With PAQ’s, auditors and audit schedulers can complete their audit cycle workflows from within a unified tool – schedule audits, designate auditees, assign pre-audit questionnaires, or make […]

Read MoreMore Tag

Key Takeaways: FINRA’s 2019 Report on Examination Findings and Observations

On October 16, 2019, FINRA published its 2019 Report on FINRA Examination Findings and Observations.  This report is a useful resource for firms to leverage to improve their compliance and risk management programs.  One of the findings in the report pertains to failure to effectively monitor for and react to regulatory changes.  Firms are required to review regulatory changes against their supervisory systems, including their written supervisory procedures and training programs.  FINRA found that some […]

Read MoreMore Tag
Scroll to top