05-17-17
FINRA Proposes New Requirements To Address High-Risk and Recidivist Brokers
On January 4, 2017, FINRA President and CEO Robert Cook issued the organization’s Annual Regulatory and Examinations Priorities Letter which focused on the “blocking and tackling issues of compliance, supervision and risk management.” The letter contained a commitment to “devote particular attention to firms’ hiring and monitoring of high-risk and recidivist brokers, including whether firms establish appropriate supervisory and compliance controls for such persons.” Making good on this commitment, FINRA’s Board of Governors approved a set of proposals.