Industry Examinations

News & Analysis as of

OCC Report Highlights Wide Range of Potential Risks

Why it matters - The OCC’s most recent report on current key risks should be read by all banks, regardless of size or regulator, as a road map in preparing for the next examination. Few banks would ever admit they may...more

New York Banks Face New Cybersecurity Exam Process

Why it matters - Adding to the banks’ compliance obligations, effective immediately, banks chartered or licensed in New York will now face an updated cybersecurity examination process, Superintendent of the Department...more

Priorities Focus on Protecting Retail Investors, Assessing Market-Wide Risks and Using Data Analytics

On January 13, the Securities and Exchange Commission announced its Office of Compliance Inspections and Examinations’ (OCIE) priorities for 2015 which focus on three areas: protecting retail investors, especially those...more

Four Things to Know About the 2015 SEC OCIE Exam Priorities

On January 13, 2015, the SEC’s Office of Compliance Inspections and Examinations issued its Examination Priorities for 2015. Among the various priorities, these four issues stood out...more

This Week In Securities Litigation

The Commission brought cases related to HFT this week, but not against those traders. One action involved the operations of one of the largest dark pools. A second involved two exchanges. Each action involved specific types...more

SEC and FINRA Announce 2015 Exam Priorities

The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) recently announced their 2015 exam priorities for their respective examination programs. Both the SEC and FINRA have...more

FINRA Issues Regulatory and Examination Priorities for 2015

On January 6, 2015, FINRA set forth its regulatory and examination priorities (the “Priorities Letter”) for 2015, providing insight into FINRA’s concerns about the operation of the securities industry and markets. The...more

SEC Announces 2015 Exam Priorities

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released its 2015 Exam Priorities January 13. Director Andrew Bowden’s annual list details OCIE’s subject of focus for the coming year....more

SEC and FINRA Exam Priorities

The SEC and FINRA announced the priorities for their examination programs from 2015 this week. The SEC priorities build in several respects on those from the prior year. They are divided into four areas which, to some extent,...more

OCIE Publishes Exam Priorities for 2015

The National Exam Program of the SEC’s Office of Compliance Inspections and Examinations (OCIE) published its examination priorities for 2015 this week. (Last week, FINRA published its priorities, discussed here.) Many of the...more

Financial Services Weekly News Roundup - January 2015 #2

Editor’s Note - Rich Matheny Comments on New Format of OFAC Sanctions List: On January 5, OFAC announced the release of a new format of its Specially Designated Nationals and Blocked Persons (SDN) List. With the new...more

Fees and Expenses 2014: A Benchmarking Survey with pfm

In This Presentation: - Introduction - Demographics - Question 1 - Question 2 - Question 3 - Question 4 - Question 5 - Question 6 - Question 7 - Question...more

Compulsory examinations for financial planners on the horizon

ASIC has used its opening address to the Parliamentary Joint Committee on Corporations and Financial Services to advocate for compulsory examination of financial planners. ...more

CFPB Releases Supervisory Report Highlighting “Risky Practices” of Nonbanks

The CFPB released a report regarding certain actions the CFPB discovered during its supervision of the payday, debt collection, and consumer reporting industries. The report, which covers the CFPB’s supervision of those...more

The Consumer Financial Protection Bureau: Measuring the Progress of a New Agency

In This Issue: Executive Summary; Introduction; Focus of Consumer Protection Task Force; History of the CFPB; Rule-Making; Examinations and Data; Consumer Relations; The Scope of CFPB Authority; Transparency; CFPB...more

Broker-Dealers: Pay Attention To Government Audits And Examinations

The story of “The Boy Who Cried Wolf” applies with full force to the securities industry and the FCPA. ...more

OIG to look at presence of CFPB enforcement attorneys in exams

The CFPB’s practice of bringing enforcement attorneys to examinations has been a continuing concern for industry. In particular, supervised entities worry that the participation of enforcement attorneys in examinations...more

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