Finra’s recently released 2018 Regulatory and Examination Priorities Letter identifies fraud and high-risk brokers and firms as top areas of focus this year. ThinkAdvisor summarizes other priority areas and lists new Finra rules and compliance dates, including the “Financial Exploitation of Specified Adults,” which goes into effect Feb. 5. See the full story below. Also, in a column at ThinkAdvisor, Brad Wheeler of AssetMark Trust notes that firms should be able to answer a series of emergency-related questions regarding communications processes and emergency procedures to ensure they are adequately prepared for a disaster. “At least once a year, set aside time with your team to run through a surprise scenario and note how your plan succeeded — or didn’t,” he writes. See his column below.
FINRA Releases Exam Priorities for 2018
By Melanie Waddell
Retail fraud and high-risk brokers top the Financial Industry Regulatory Authority’s just-released 2018 Regulatory and Examination Priorities Letter, with the self-regulator also planning to usher in this year a revamped exam program as well as enhanced “information-sharing” with firms during exams. “The coming year will bring both continuity and change in FINRA’s programs,” FINRA CEO Robert Cook wrote in a note to firms that accompanied the Priorities Letter.
3 Steps to Disaster-Proofing Your Firm
By Brad Wheeler, President, AssetMark Trust
From hurricanes to wildfires and more, 2017 brought calamitous weather and major events that forever changed many communities and industries across the country. Many financial advisors found their offices inaccessible for reasons beyond their control — but their duties to clients hadn’t changed. This reality in times of crisis is forcing advisors to take a hard look at their businesses and seriously consider whether they are adequately prepared to serve their clients at all times.