Regulatory Outlook | 04.07.21
FINRA Zooming In on Platform Outages, Suspicious Activity Reports
FINRA's exams this year will focus on broker-dealer filings of suspicious activity reports, technology governance, and communications about digital assets, in addition to Regulation Best Interest (Reg BI), says Bill St. Louis, FINRA’s senior vice president of retail and capital markets firms. Regarding Reg BI, St. Louis said FINRA will “still be focused on looking at firm implementation efforts.” However, exams “are always backwards-looking as a review period and as we do exams in 2021 and beyond that cover more of a post-June 30  time period,” Reg BI’s compliance date, “we can anticipate that there’ll be some deeper reviews.”
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