01.23.24

FINRA Finalizes Timeline for New Remote Supervision Rules

by: Mason Braswell

The Financial Industry Regulatory Authority’s (FINRA) temporary relief from in-person inspection requirements will expire on May 31, according to a regulatory notice. In its place, FINRA will implement two new rules to govern remote supervision that were approved by the U.S. Securities and Exchange Commission in November. One, which will change the definition of a residential supervisory location so that home offices must be inspected once every three years rather than annually, will take effect on June 1, according to the notice. The second rule establishes a remote inspection pilot program that allows certain firms to continue with virtual exams of broker offices. That rule will take effect July 1, and firms will have from June 1 to June 26 to enroll in the pilot.

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