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Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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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.