BROWSE BY TOPIC
Stories of Interest
- Banca IMI Securities to Pay $35Mn for Improper Handling of ADRs in Continuing SEC Crackdown
- Members of White House ‘Arts Panel’ Resign En Masse in Protest of Trump
- FINRA Whiffs on Disciplinary Sanction: Bill Singer's 'Negligent Market Manipulation in OTC Stock Promotion'
- Heather Heyer’s Mother Says, ‘I’m Not Talking to the President’
- Goldman Sachs May Have Lost $100Mn on Energy Bet Gone Wrong
- SEC Drops Case Against Ex-JPMorgan Traders Over 'London Whale'
- Financial Advisers That Invest in Technology Need to Accomplish These Two Things
- FINRA Amends Codes Regarding Expedited Arbitrator List Selection
- FINRA July 2017 Quarterly Disciplinary Review (Podcast)
- Senior Exec in Citigroup's Equities Unit Has Left
- Prudential Plotting its Escape From Fed's Tough Oversight
- Why CEOs Spurned Trump's Business Councils, in Their Own Words
- A Stockbroker, Her LLC, and Her Customers' Loans (Or Investment?) - Bill Singer
- Brian Quintenz Sworn In as CFTC Commissioner
- A Gary Cohn Resignation Would 'Crash the Markets' – Mgmt Guru Jeffrey Sonnenfeld
- Trading Firm DRW to Buy RGM Advisors - As Low Volatility Forces Out Weak HFT Players (subsc reqd)
- Reputational Damage - Rajat Gupta on Hard Road to Recovery
- 7th Circuit Affirms Spoofing Conviction - Bill Singer
- Wells Fargo Announces Board Changes
- Judge Rules Against Ex-Goldman Employee in Fed Leak Case
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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.