01.09.24

FINRA Annual Report Highlights Crypto, Cybersecurity, Reg BI

by: Alex Ortolani

The Financial Industry Regulatory Authority (FINRA) issued its annual roundup of concerns related to the retail wealth management industry, and in an update, said it was adding developments in “crypto assets” to its list of major concerns for the brokerage industry. FINRA covered 26 topics in the report and noted a focus this year on cybersecurity, cryptocurrency assets, artificial intelligence’s potential impact on regulatory obligations and guidance on supervision and retention of off-channel communications. Other topics FINRA pointed out for close monitoring in the year ahead were Regulation Best Interest, Form CRS (customer/client relationship summary) and Consolidated Audit Trail rules.

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