08.02.22
FINRA Proposes Three-Year Pilot Program for Remote Office Inspections
by: Mark Schoeff Jr.
The Financial Industry Regulatory Authority (FINRA) has filed a proposal with the U.S. Securities and Exchange Commission that would establish a three-year voluntary pilot program for financial firms that want to continue remote inspections of branch offices and other locations. The program would extend the online supervision that FINRA has allowed since November 2020 in response to the pandemic. “With the confluence of advances in compliance technology and the permanent shift to a remote or hybrid work environment, made more pronounced by the pandemic, FINRA believes that the optimal use of on-site inspections deserves further consideration," the rule proposal states.
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