What Are Finra Examiners Looking for?
The Financial Industry Regulatory Authority's (Finra) market regulation division wants broker-dealers to be "well armed to assess their compliance operations," according to its 2008 exam priorities letter. Along with ongoing concerns like educating senior investors and anti-money laundering, the seven-page letter, issued to members at the end of March, cites several areas that examiners are focusing on this year, including:
Sales of new products. As they consider suitability issues, firms are encouraged to take a proactive approach to developing and vetting new and often complex securities.
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