Finra Unscripted

FINRA recently announced the creation of a new team, the Office of Regulatory Economics and Market Analysis, which brings together FINRA's Office of the Chief Economist and the Office of Financial Innovation. On this episode, we talk with Jonathan Sokobin, Executive Vice President and head of REMA, Haime Workie, Vice President of the Office of Financial Innovation, and Lori Walsh, Vice President of the Office of the Chief Economist about how the new team works to inform FINRA's regulatory policies and programs to advance its mission of investor protection and market integrity.Resources mentioned in this episode:2022 Industry SnapshotOffice of the Chief EconomistREMA AnnouncementEpisode 16: How FINRA Rules Get Made and Reviewed

FINRA's new Machine-Readable Rulebook is designed to enhance firms' compliance efforts, reduce costs and aid in risk management, with a lot to gain for firms of all sizes and various business models. On this episode, Afshin Atabaki, Associate General Counsel with FINRA's Office of General Counsel, and Haime Workie, Vice President of FINRA's Office of Financial Innovation, join us to delve into what exactly the Machine-Readable Rulebook is, how it works, and how you can start taking advantage of all it has to offer.Resources mentioned in this episode:Special Notice 10/21/22: FINRA Requests Comment on Its Machine-Readable Rulebook InitiativeSpecial Notice 7/30/18: FINRA Requests Comment on Financial Technology Innovation in the Broker-Dealer IndustryFINRA API Developer CenterFINRA RulesFINRA Rulebook Search Tool™ (FIRST™) OverviewFINRA Rulebook

Succession planning, catastrophe planning, contingency planning--whatever you want to call it, these plans are important not just for customers and registered representatives but can even be a matter of life or death when it comes to the continued existence of a firm. On this episode, we talk to Jeanette Wingler, FINRA’s Special Assistant to the CEO, and Elena Schlickenmaier, a Senior Principal Analyst in Member Supervision, to dig into Regulatory Notice 22-23 on succession planning to hear how and why firms should plan for the expected and unexpected in life.Resources mentioned in this episode:Regulatory Notice 22-23Rule 4370: Business Continuity PlanningRule 2040: Payments to Unregistered PersonsContinuing Membership Application ResourcesFINRA Examination and Risk Monitoring Programs

The best tool FINRA provides when it comes to firms developing their annual compliance program is now available. The 2023 Report on FINRA’s Examination and Risk Monitoring Program provides key insights and observations on two dozen key regulatory topics, making it a must-read for compliance professionals. On this episode, Ornella Bergeron, Senior Vice President of Risk Monitoring, Michael Solomon, Senior Vice President of Examinations, and Bill St. Louis, Executive Vice President of the National Cause and Financial Crimes Detection Programs (NCFC), join us to dig into some of the new and noteworthy topics in the latest report. Resources mentioned in this episode:2023 Report on FINRA’s Examination and Risk Monitoring ProgramEpisode 112: Introducing FINRA’s Complex Investigations and Intelligence Team and Cyber and Analytics UnitEpisode 71: Overlapping Risks, Part 1: Anti-Money Laundering and Cybersecurity

The festive season is here. Are you looking for the perfect gift for the compliance professional in your life? Look no further. On this episode, Kayte Toczylowski, FINRA’s vice president of Member Relations and Education, joins us to share the top five FINRA tools and resources, or gifts, if you will, that you will want to make sure you are aware of and be sure to share with all of your colleagues.Resources mentioned on this episode: FINRA Compliance ToolsFINRA NoticesFINRA Targeted Exam Letters (aka Sweeps)FINRA Conferences & EventsFBI Cyber Threat Briefing SeriesMachine-Readable Rulebook InitiativeFINRA Advisory CommitteesFINRA Committee Indication of Interest FormHave questions? Email: Membership@finra.org

This episode originally aired in March 2022.Detecting and deterring fraud and insider trading is at the core of FINRA's mission of investor protection and market integrity. On this episode, Sam Draddy, the head of FINRA's Market Investigations team, joins us once again to talk about the latest trends and patterns in FINRA's fraud and insider trading investigations, including some stories about some of the craziest and most interesting cases of the past few years.Resources mentioned in this episode:Episode 23: Insider Trading: Finding the Needle in the Haystack

The FINRA Institute at Georgetown Certified Regulatory and Compliance Professional Program is designed to give compliance, legal and regulatory professionals an in-depth understanding of the foundation, theory and practical application of securities laws and regulation. On this episode, we hear from Jim Angel, CRCP Program Academic Director and Associate Professor with the Georgetown McDonough School of Business, and Susanne Goldsmith, a Senior Director with FINRA's Member Relations and Education team, about what makes a CRCP Program a must for FINRA member firms and their high-performing compliance staff.Resources mentioned on this episode: FINRA Institute at GeorgetownEpisode 28: A Look at the FINRA Institute at Georgetown CRCP ProgramGeorgetown360: James J AngelHave questions? Email: Membership@finra.org

The market for crypto assets has seen continued growth and firms are looking for ways to get involved in the digital asset space. So far, about two dozen firms have been approved by FINRA to provide services in securities backed by digital assets. And more firms are looking to follow in their footsteps. On this episode, we hear from Armando Valdes, an application manager with FINRA’s Membership Application Program (MAP), and David Aman, a senior advisor with the Office of Financial and Operational Risk Policy within the Chief Legal Office, about the role FINRA’s MAP team is playing in the digital asset space, some common sticking points in these new and continuing member applications and how FINRA is working to support innovation while protecting investors in this dynamic environment. Resources mentioned on this episode: SEC’s September 25, 2020 No-Action Letter, “ATS Role in the Settlement of Digital Asset Security Trades”SEC/FINRA July 8, 2019 Joint Statement on Broker-Dealer Custody of Digital Asset Securi

Rural America faces financial capability and vulnerability challenges that are often difficult to address. And that is especially true for America's minority and women farmers. On this episode, we hear from Dr. Cesar Escalante, the 2022 recipient of the FINRA Foundation Ketchum Prize, about his pioneering research into the racial and gender biases in agricultural lending, his commitment to mentoring and more.Resources mentioned in this episode:Ketchum Prize Press ReleaseCesar Escalante University of Georgia Bio

The implementation of the largest change to the securities industry Continuing Education program in 25 years is well under way, with a few new deadlines right around the corner. On this episode, we hear from Patricia Monterosso and Nicole Lefort from FINRA’s Credentialing, Registration, Education and Disclosure team about how the Maintaining Qualifications Program is progressing and what firms can expect in with regard to changes to the Continuing Education Regulatory Element in the months ahead. Resources mentioned in this episode:Regulatory Element TopicsCE Council WebsiteFINRA CE Transformation Resource PageMaintaining Qualifications ProgramFinancial Professional Gateway (FinPro)Episode 97: What to Expect: The CE Transformation & Maintaining Qualifications Program

When it comes to bringing enforcement actions against individual brokers, there is a lot to consider, especially when the sanctions can be life altering for the individual in question. On this episode, we hear from Deputy Head of Enforcement Chris Kelly about what makes cases against individual brokers different from those brought against firms and all the considerations involved. Resources mentioned on this episode:FINRA EnforcementMonthly Disciplinary ActionsDisciplinary Actions Online DatabaseEpisode 69: Excessive Trading: When A Lot Becomes Too MuchEpisode 77: Behind the Process: How an Enforcement Action Becomes an Enforcement Action

Member Supervision, Market Regulation and Transparency Services and Enforcement. These three teams together make up Regulatory Operations or Reg Ops, which is at the very core of FINRA's efforts to protect investors and ensure fair and efficient markets for all. On this episode, we hear Greg Ruppert, Executive Vice President of Member Supervision, Stephanie Dumont, Executive Vice President of Market Regulation and Transparency Services, and Jessica Hopper, Executive Vice President of Enforcement, about how they are working together to increase coordination and to ensure integrated oversight, to be able to better anticipate and address risks. Resources mentioned on this episode:Conferences and EventsFINRA Report CardsEpisode 99: From NCFC to Member Supervision Head: Reintroducing Greg RuppertEpisode 87: Introducing Stephanie DumontEpisode 77: Behind the Process: How an Enforcement Action Becomes an Enforcement Action

The new Complex Investigations and Intelligence (CII) team and Cyber and Analytics Unit (CAU) are driving a shift in terms of how Member Supervision’s National Cause and Financial Crimes Detection Program comes at its work and leverages intelligence and analytics to drive decision making and operations. On this episode, we hear from Omer Meisel, Vice President of CII, and Brita Bayatmakou, Senior Director of CAU, about how these changes will help FINRA better deliver on its mission of investor protection, market integrity.Conferences and EventsEpisode 86: FINRA’s Financial Intelligence UnitEpisode 72: Overlapping Risks, Part 2: AML and Elder ExploitationFBI Cyber Threat Briefing Series

The COVID-19 pandemic disrupted many facets of American life but did not derail a trend toward increasing financial capability. Still, not all Americans are benefiting equally from improvements in financial wellbeing, according to the new FINRA Foundation Financial Capability Study. On this episode, Gerri Walsh and Gary Mottola of the FINRA Foundation join us to delve into the latest results of this nationwide, triennial study and their implications for the financial industry, researchers, policymakers and more.Resources mentioned in this episode:2021 National Financial Capability StudyFINRA FoundationFinancial Literacy QuizEpisode 38: 2018 Financial Capability Study, Part I: Does a Rising Tide Lift All Boats?Episode 39: Financial Capability Study, Part II: Tracking Shifting Currents of Financial Well-Being

This episode originally aired in November 2021.Transparency plays a central role in promoting the fairness and efficiency of U.S. markets, lowering transaction costs, leveling the playing field and enhancing public trust in our markets. And the data market transparency provides serves as the lifeblood of FINRA's surveillance program.On this episode, we hear the Market Regulation and Transparency Services’ Jon Kroeper, executive vice president of the Quality of Markets Group, and Ola Persson, senior vice president and head of Transparency Services, about FINRA's historical commitment to market transparency and how it has impacted FINRA's regulatory regime.Resources mentioned in this episode:Trade Reporting and Compliance Engine (TRACE)TRACE at 20 - Reflecting on Advances in Transparency and Fixed IncomeConsolidated Audit Trail (CAT)Regulatory Notice 20-43Advancing Market Regulation and TransparencyEpisode 13: How the Cloud and Machine Learning Have Transformed FINRA Market Surveillance 

June 30th marks the second anniversary of the implementation of Regulation Best Interest and Form CRS and we are celebrating with a deep dive into everything FINRA has learned on the topic over the last two years. On this episode, Meredith Cordisco, associate general counsel with the Office of General Counsel, Scott Gilbert, vice president covering the large diversified firm group and alternative net capital group within Member Supervision, and Nicole McCafferty, senior director with the National Cause and Financial Crimes Detection Program, join us to talk about how FINRA is examining around the new regulations and explore some of the common problem areas and effective practices when it comes to complying with all that is now required.How are we doing? Take the FINRA Unscripted survey today. Resources mentioned in this episode:SEC Reg BI Resource PageFINRA Reg BI Resource PageEpisode 63: Implementing a New Standard of CareEpisode 45: Preparing for a New Standard of CareEpisode 69: Excessive Trading: When A L

Juneteenth is a day to celebrate, but it's also a day to reflect upon the hardships that African Americans endured and the forces that continue to undermine the freedoms of Black Americans. One of the places that these forces are most clear is in the U.S. financial system, in which Black Americans and other people of color have been historically underrepresented. On this episode, we invite you to join us in this reflection as we hear from FINRA’s Vice President of Talent Acquisition and Chief Diversity Officer Audria Lee and from Ritta McLaughlin, Director of Community Outreach, about how FINRA has been working to build equitable solutions and a better future within our organization, our communities and the financial industry. How are we doing? Take the FINRA Unscripted survey today. Resources mentioned in this episode:2021 Diversity, Equity & Inclusion ReportDissertation Completion Fellowship ProgramBoard of Governor’s Diversity StatementRacial Justice Task Force

Money laundering looks different in the securities industry and that poses its own challenges. But add to that a landscape of constantly evolving threats and it is a lot to keep up with. On this episode, Jason Foye, Senior Director of the National Cause and Finance Crimes Detection Program’s Special Investigative Unit joins us once again to tell us about the latest trends, emerging threats and how firms can ensure their AML program remains strong and effective. How are we doing? Take the FINRA Unscripted survey today. Resources mentioned in this episode:Episode 33: Beyond Hollywood: Money Laundering in the Securities IndustryEpisode 34: Beyond Hollywood, Part II: AML Priorities and Best PracticesEpisode 71: Overlapping Risks, Part 1: Anti-Money Laundering and CybersecurityEpisode 72: Overlapping Risks, Part 2: Anti-Money Laundering and Elder ExploitationEpisode 86: FINRA’s Financial Intelligence Unit: Connecting the Dots2022 Report on FINRA’s Exam and Risk Monitoring Program: Cybersecurity2022 Report on FINRA

The FINRA Annual Conference is happening now, in-person in Washington, DC, and virtually. The event is packed full of panels with information on all the latest compliance trends and emerging regulatory issues. On today's episode, we're taking you behind the scenes of the opening plenary session, a conversation between FINRA President and CEO Robert Cook and the outgoing chair of the FINRA Board of Governors, Eileen Murray. How are we doing? Take the FINRA Unscripted survey today.Resources mentioned in this episode:FINRA Events & ConferencesEpisode 36: Digital Experience TransformationEpisode 98: Deep Learning: The Future of the Market Manipulation Surveillance Program

Every year, millions of seniors become victims of financial exploitation, resulting in billions of dollars in losses. That's just one reason why the protection of these investors is a top priority for FINRA. On this episode, we hear from FINRA’s Office of General Counsel’s Jeanette Wingler and Jim Wrona about how FINRA Rules 4512 and 2165, the first uniform national senior investor protection standards, can help broker-dealer firms and representatives protect their senior and other vulnerable adult customers. How are we doing? Take the FINRA Unscripted survey today. Resources mentioned in this episode:Rule 2165Rule 4512Episode 16: How FINRA Rules Get Made (and Reviewed)Securities Helpline for Seniors®FINRA Foundation