FINRA’s top exam priorities for 2016
January 11, 2016 by Melanie Waddell
Coinciding with the expected release early this year of the Department of Labor’s rule to rein in brokers’ conflicts, such conflicts of interest will also be a top exam priority for the Financial Industry Regulatory Authority in 2016.
“We completely agree with DOL that those [BD] conflicts are real and they need to be addressed, and that firms have failed in managing their conflicts on too many occasions,” Richard Ketchum, FINRA’s chairman and CEO, told our sister site, ThinkAdvisor, in an interview to discuss the release of the self-regulator’s 2016 regulatory and exam priorities.
FINRA also said that it would focus heavily on a firm’s compliance culture, noting that the self-regulator will “assess five indicators of firm’s compliance and supervision culture” in 2016.
