11.15.22
FINRA Launches Crypto Probe as Regulators Increase Scrutiny of Digital Assets
by: Kenneth Corbin
The Financial Industry Regulatory Authority (FINRA) has launched an examination initiative evaluating how firms are communicating with clients about crypto assets, following the collapse of FTX. FINRA is limiting its inquiry to communications with clients from July 1 through Sept. 30, asking member firms to compile and submit detailed lists of any written message, video, social media posting or other message relating to crypto that was sent to more than 25 retail investors. Additionally, it is seeking to review firms’ supervisory procedures relating to crypto communications, as well as any compliance manuals, training materials or other firm documents that address the issue.
Read the full article on Barron's