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Stories of Interest
- North Korean caught secretly mining bitcoin rival
- IPO Timelines Cut by 80% After SEC's Private Filing Decision
- How the Carried Interest Break Survived the Tax Bill
- FINRA: The Neutral Corner
- Coinbasex Says Buying and Selling Temporarily Disabled Amid Price Rout
- Bitcoin plunges by more than a third in a single day
- Goldman Is Setting Up a Cryptocurrency Trading Desk
- Jefferies Lets Employees Choose When to Receive Their Bonuses
- UBS Told to Pay $903K After Losing Retaliation Verdict
- BEWARE: Long Island Iced Tea Shares Soar After Changing Name to Long Blockchain
- Gary Cohn’s Last Laugh: Cashing Out on Trump’s Tax Plan
- E*Trade Lets Customers Trade in CBOE Bitcoin Futures
- Swiss Find Serious Shortcomings at JPMorgan in 1MDB Case
- Washington-based Investment Adviser and His Business Partner Charged in Multi-Million Dollar Scheme
- FINRA Board of Governors Meeting
- Cryptocurrency Market Now Doing Same Daily Volume as the NYSE
- Jailed Barclays Trader Must Pay $400,000 From Libor Profits
- Trump Asks ‘How’s Your 401(k)?’ But Most Voters Don’t Have One
- A Bitcoin Hedge Fund’s Return: 25,004% (That Wasn’t a Typo)
- Madoff Victims Near Full Recovery of Principal With Payout
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NEWSLETTERS & ALERTS
FINRA 2017 Exam Priorities – New Podcast
FINRA released the last in a four-part podcast series that highlights key issues from the FINRA Regulatory & Examination Priorities for 2017, sent in early January to member firms. [See Financialish, 1/4/17]
In this latest podcast, FINRA addresses Market Integrity issues that FINRA examiners will likely be looking for during the coming year.
Financialish offers the following ‘Marketing Integrity’ take-aways. FINRA examiners will be looking at …
- ‘Cross-Market Equity Supervisor Report Card’, for possible spoofing or layering.
- ‘Best Execution’, for automation of markets (equities and fixed income) and payment for order flow.
- ‘FINRA Audit Trail Reporting Early Remediation Initiative’, for potential equity audit trail issues not typically detected through routine compliance sweeps and reviews. FINRA is expanding the Initiative for Regulation NMS trade-throughs and Locked & Crossed Markets.
- ‘Tick Size’.
- ‘SEC’s Market Access Rule’, for control documentation and rationales, and consistent monitoring of controls implementation.
- ‘Trading Exams’, for alt-trading systems - including disclosing to customers how they operate, as well as conflicts of interest and best execution.
- ‘Pilot Trading Program’ rollout, for testing of smaller firms not typically subject to trading exams.
- ‘Enhancements to FINRA”s Fixed Income Securities Surveillance Program’, for more manipulation patterns, for FI written supervisory programs (WSPs) coverage of new TRACE reporting requirements, and for data integrity programs that monitor submitted data accuracy.