2016 has arrived and, with the new year, FINRA has published its agenda of key examination priorities. This year’s 13-page Regulatory and Examination Priorities Letter sets forth both long-standing and new items for firms to evaluate in preparing for an examination. Not surprisingly, the letter is broad, and covers a wide range of areas; we indicate below our recommendations for firms that are preparing for an exam. Each member firm should, however, carefully assess the priorities identified in the letter in the context of its own business.
Key Themes -
Supervision, risk management and controls – FINRA examinations will focus on anti-money laundering, cybersecurity, the management of conflicts of interest and technology management, as well as outsourcing and data quality.
Please see full Alert below for more information.