News | 12.13.19
FINRA Announces Consolidation of Examination Functions
FINRA has streamlined its examination operations and will begin reviewing brokerages based on their business models next year, the regulator announced. FINRA is unifying what had been three different examination functions—business conduct, financial, and trading compliance—into one program. Under the new system, member firms will be grouped into one of five main business models: retail, capital markets, carrying and clearing, trading and execution, and diversified. Each group will be divided into subgroups to "more precisely categorize firms with similar business models and activities," FINRA said.
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