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Finra’s Exam Findings Report Released


Finra’s first-ever exam findings report provides observations on risk areas identified in recent exams, including cybersecurity, product suitability, anti-money laundering compliance, and best execution, according to ThinkAdvisor. The findings are not intended to create “new legal or regulatory requirements or new interpretations of existing requirements,” Finra said. See the full story below. Also, the NAIC’s Life Insurance and Annuities Committee will go forward with a plan to revise annuity sales standards, ThinkAdvisor reports. The revision could include a “best interest standard of care” for annuity sales  similar to standards in the Department of Labor’s fiduciary rule. See a link to the story below.

Finra Releases First Exam Findings Report

By Melanie Waddell

Source: ThinkAdvisor

The Financial Industry Regulatory Authority on Wednesday released its first exam findings report, which focuses on “selected observations” from recent exams that FINRA considers “worth highlighting” because of their impact on the industry.


3 Things to Know About the Fiduciary Rule’s Little Brother

By Allison Bell

Source: ThinkAdvisor

State insurance regulators could make their own annuity sales standards more like the standards in the U.S. Department of Labor’s new fiduciary rule. A top-level division of the National Association of Insurance Commissioners decided Monday to move ahead with an annuity sales standards revision project.