Recent News
FINRA Enforcement Turns Up Heat on Mutual Fund Direct Business and Firms That Are Brokers of Record
FINRA Enforcement has recently initiated enforcement actions against brokers-of-record and mutual fund and variable annuity direct business, focusing on client suitability, impact, remediation, and other issues. Read the full Alert to learn more about FINRA Enforcement's focus.
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SIFMA Webinar Series - Monday, October 5, 2020 - Virtual Branch Office Compliance Visits
Hear directly from compliance and risk leaders, including FINRA, on the latest updates concerning virtual branch office compliance visits during our webinar, co-hosted by SIFMA and Bates Compliance. Jill Ehret (Director, Bates Compliance) will appear on the panel, with opening remarks by CEO Jennifer Stout. October 5, 2020 at 1 p.m. Eastern. CLE credits available.
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OCIE Warns Against Emerging Cyber Threat of “Credential Stuffing”
On September 15, 2020, the Office of Compliance Inspections and Examinations (“OCIE”) issued an alert urging investment advisers and broker-dealers to review their customer account protection safeguards and identity theft prevention programs. The impetus behind the alert is an increase in the number of cyber-attacks using a tactic called “credential stuffing,” observed during recent examinations. OCIE also disclosed a number of practices firms are using to mitigate this emergent risk.
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