Regulatory Outlook | 09.15.21
SEC's Gensler Signals Likely OK to Extend FINRA Remote Inspections
SEC Chair Gary Gensler indicated at a Senate Banking Committee hearing that the agency is considering clearing FINRA's plan to extend remote branch inspections into 2022. In late 2020 FINRA adopted temporary supplementary material under Rule 3110 to help firms meet inspection obligations for calendar year 2020 and 2021, and the rule is due to expire on 31 December. Gensler also told the committee that the commission will focus on private funds, "in particular the conflicts of interest their managers may have and the information they are providing investors about the fees they charge."
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