AML and Branch Audits

AML and Branch Audits in the Time of COVID-19

At the beginning of the year, FINRA released important updates related to supervision requirements for broker-dealers. As broker-dealers and their employees started experiencing various work-from-home, virtual meeting, and operations challenges, FINRA provided valuable guidance for the transition in a FAQ related to the coronavirus pandemic. Below are a few items where FINRA has provided areas of relief related to AML and Branch audits. AML Independent Testing FINRA Rule 3310, Anti-Money Laundering (“AML”) Compliance Program, requires Read more about AML and Branch Audits in the Time of COVID-19[…]

Cybersecurity

Cybersecurity in the Time of COVID-19

For many firms, a remote workforce is now a new reality. Even with many states’ shelter-in-place restrictions lifting, firms are continuing with their work-from-home strategies for the majority of their staff. This transition and the related challenges have forced firms to re-evaluate their current cybersecurity and remote policies and procedures. The following considerations are important to ensure that your remote staff has the tools in place to adhere to regulatory rules, firm procedures, and best practices.

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Code of Ethics

Code of Ethics Concerns During COVID-19 and Beyond

COVID-19 has bought a “new normal”. From stay-at-home orders and teleworking requirements to market volatility, consumer worry, and delayed public disclosure, the face of the industry will be forever changed. In light of this, Registered Investment Advisor compliance departments should consider reviewing the landscape of the Code of Ethics requirements.

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Compliance Surveillance

Compliance Surveillance Trends During COVID-19

The messages are clear. Sales practice concerns, fraud, and operational issues related to the COVID-19 pandemic have arrived. Compliance professionals who are responsible for the surveillance and review of targeted areas of the compliance program should understand what may be coming down the pipe and ensure that their programs are sufficiently flexible to identify potential red flags.

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regulatory exam

Regulatory Exam Preparedness and COVID-19

Your firm is beginning to get in the groove since the shelter-in-place orders have been implemented. In the past, you have worked from home on certain days, but the transition to full-time teleworking, homeschooling, and pet sitting has been a challenging reality. Then surprise! You get a call from your regulatory coordinator that FINRA or the SEC has decided to conduct a regulatory exam of your firm starting now.

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