By Nick Paraskeva, for Compliance Complete
NEW YORK, Jan.7 (Thomson Reuters Accelus) - Broker dealers have been put on notice of regulatory priority areas where they will be examined in 2014. The topics seen as posing greatest risk to investors and markets were issued in a letter by the Financial Industry Regulatory Authority (FINRA) on the first day of the year. They include new areas such as seeing patterns of suspicious activity by representatives, including questioning firms why they hired the persons.
“We encourage firms to use this guidance along with their own analysis to enhance their programs as we will be examining for strong controls and robust compliance efforts in these areas” stated Susan Axelrod, FINRA Executive Vice President, Regulatory Operations, on release of the letter to member firms. (more…)