Labor & Employment Law

Finra releases 2010 annual examination priorities

By Dobin & Jenks

The Financial Industry Regulatory Authority (FINRA) released a 16-page letter announcing that it is issuing its 2010 annual examination priorities, on March 1st. The letter includes information on both new and existing areas of importance to FINRA?s yearly examination program. The letter discusses priority topics from FINRA?s Market Regulation and Member Regulation Departments, and the organization?s Enforcement Department.

The financial decline of 2009 exposed investment frauds ?perpetrated by registered and unregistered parties?. As a result, the agency plans to heighten its focus, and to execute regulatory programs that are both rigorous and thorough. The idea is to provide investors with the best possible protection from investment fraud.

Some of the organization?s new developments include:

? The establishment of the Office of Fraud Detection and Market Intelligence in order to provide such services as a heightened review of serious fraud allegations;

? An expansion of BrokerCheck and other disclosure expansions to make it easier for investors to find information about brokers;

? A rule consolidation process designed to create a new consolidated rulebook; and

? The eFOCUS Filing Platform that will allow firms to submit certain reports to FINRA electronically.

FINRA encourages investment providers and investors to use the information in the letter to ?gain valuable insights into key FINRA examination and regulatory topics.?

Click on the following link to read the 2010 FINRA Annual Examination Letter.

Full post as published by The Law Planet Blog on March 04, 2010 (boomark / email).