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FINRA plans to improve exam program


Finra is “looking at a series of process improvements” in its examination program and will announce them in the next few months, CEO Robert Cook said during a recent webcast. According to an article at ThinkAdvisor, the self-regulator also plans to release by the end of 2017 its first exam findings report, following up on a request by broker-dealer firms. Read the details below. Also, the DOL recently finalized its 18-month delay of full implementation of its fiduciary rule, but an industry legal expert said most firms have already embraced the standards for retirement and IRA accounts, reports Financial Advisor Magazine. “I don’t think the courts would be able to undo it even if they wanted to,” Marcia Wagner, principal of Wagner Law Group, told the publication. A link to the story follows.

FINRA to Revamp Exam Program

Self-regulator taking a ‘broader’ look at exam programs, hopes to announce plans in first half of 2018

By Melanie Waddell

Source: ThinkAdvisor

The Financial Industry Regulatory Authority plans to release by year end its first exam findings report and announce in the first half of 2018 how it plans to revamp its exam program, according to FINRA CEO Robert Cook. “We’re looking at a series of process improvements in our examination program, particularly our ‘cycle’ examination program, with a view to announcing those sometime in the next few months,” Cook said Tuesday during a FINRA Unscripted webcast.


Despite Delays, DOL Rule Becoming Law Of The Land, Expert Argues

By Tracey Longo

Source: Financial Advisor

Despite a year-and-a-half delay and an imminent legal decision in a blockbuster industry lawsuit to force the Department of Labor to vacate its fiduciary regulation, the rule is fast becoming standard operating procedure at most firms, says Marcia Wagner, principal of the national law firm Wagner Law Group.