Financial Regulatory Forum

Is FINRA doing enough to steer investors clear of bad brokers?

August 9, 2016

By Todd Ehret, Regulatory Intelligence

(Thomson Reuters Regulatory Intelligence) – A recent debate has emerged as to whether U.S. regulators and the securities industry have done enough to rid themselves of bad brokers. At the core of the argument are recent studies showing that the percentage of those engaged in misconduct is much higher than that claimed by the Financial Industry Regulatory Authority, and that such brokers are often able to move unimpeded from firm to firm. (more…)

Eight products on FINRA examiners’ watch lists in 2015

January 30, 2015

The Financial Industry Regulatory Authority’s 2015 exam priorities letter named eight products that it plans to monitor for risks to investors.

“Big data” tools will improve regulatory oversight, FINRA’s di Florio says

February 25, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, Feb. 25 (Thomson Reuters Accelus) – The Financial Industry Regulatory Authority is developing a suite of “big data” information sources and analytics to improve regulatory oversight of securities firms, according to Carlo di Florio, FINRA’s chief risk officer and head of strategy.

FINRA exam priorities for 2014 incorporate enterprise wide, risk-based approach

January 7, 2014

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.

Groups urge Congress to let SEC charge fees for adviser exams

December 13, 2013

By Emmanuel Olaoye, Compliance Complete

WASHINGTON, Dec. 13 (Thomson Reuters Accelus) – A coalition of groups representing investment advisers and state regulators has asked Congress to support a bill that would let the U.S. Securities and Exchange Commission to charge investment advisers an annual “user fee” for its exams.

COLUMN: When cheating lands brokers on the street

July 5, 2013

By Suzanne Barlyn, Reuters

NEW YORK, July 5 (Thomson Reuters Accelus) – One would think that aspiring financial professionals would have learned not to cheat on tests long before setting their sights on Wall Street, but not everyone got that memo.

SEC’s Walter says she is open to alternatives to overseeing investment advisers

April 19, 2013

By Emmanuel Olaoye, Compliance Complete

WASHINGTON, Apr.19 (Thomson Reuters Accelus) – There are several ways to ensure adequate examinations investment advisers: by charging investment advisers user fees, getting a bigger budget from Congress or through a self-regulated organization that oversaw investment advisers, SEC Commissioner Elisse Walter said. The important thing is to get on with it.  (more…)

Compliance is today’s slogan for upcoming law graduates, conference speakers say

February 13, 2013

By Stuart Gittleman, Compliance Complete

NEW YORK, Feb.13 (Thomson Reuters Accelus) – “I just want to say one word to you. Just one word. Are you listening? Plastics,” a business executive told a young Dustin Hoffman in the 1967 movie The Graduate.

AML again a top priority for broker-dealer exams, FINRA says

January 17, 2013

By Stuart Gittleman, Compliance Complete

(Additional reporting by Suzanne Barlyn of Reuters)

NEW YORK, Jan. 17 (Thomson Reuters Accelus) – Anti-money laundering compliance will again be a focus of Financial Industry Regulatory Authority examinations this year, particularly at broker-dealers with higher-risk business models due to their clients, products and service mix, or locations.

U.S. brokerage regulator warns of ‘unpleasant surprises’ on ETNs

July 11, 2012

By Stuart Gittleman

NEW YORK, July 11 (Thomson Reuters Accelus) – The Financial Industry Regulatory Authority, the U.S. brokerage regulator, warned investors Tuesday in an alert of the features and risks of exchange-traded notes.