On October 16, 2019, the Financial Industry Regulatory Authority
("FINRA") released its 2019 Report on FINRA Examination
Findings and Observations (the "Report"). The Report
documents key issues from the examination of FINRA member firms,
including "findings", based on a firm's violation of
Securities and Exchange Commission ("SEC"), FINRA, or
other relevant rules, and "observations", suggestions as
to how a firm can address perceived weaknesses that may elevate
risk but may not rise to the level of a rule violation.
The Report addresses findings and observations relating to the
following categories: (1) Sales Practice and Supervision, (2) Firm
Operations, (3) Market Integrity, and (4) Financial Management.
Each of the four categories is split into sub-issues where FINRA
details its findings and observations.
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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.
