FINRA Implements ID Policy Change for Exam Day

🛡️ Emerging Risks and Areas of Focus

FINRA’s report also emphasizes emerging risks that firms should address:

• Mobile Applications: Concerns were raised about mobile apps not adequately distinguishing between broker-dealer products and those of affiliates or third parties, potentially misleading investors. Free Writings+3Greenberg Traurig+3FINRA+3
• Complex Products and Options: The report underscores the need for firms to ensure that recommendations of complex products and options are in the best interest of retail customers, with appropriate disclosures and risk assessments. FINRA+1Mayer Brown+1
• Anti-Money Laundering (AML) and Sanctions Compliance: FINRA observed lapses in firms’ AML programs, including failures in transaction monitoring and sanctions screening processes. FINRA

📘 Accessing the Full Report

For a comprehensive understanding of the findings and recommendations, you can access the full 2023 Examination and Risk Monitoring Program Report on FINRA’s official website:

👉 Read the Full Report

Staying informed about these findings can help firms proactively address compliance issues and enhance their regulatory frameworks.