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Since FINRA began publishing its annual examination priorities letter in 2006, each year cybersecurity and the protection of customer information have been identified as a top priority. The 2021 Report on FINRA’s Examination and Risk Monitoring Programs is no exception. As evidence of its concerns about cybersecurity risk, FINRA has hired a number of individuals… READ MORE
For years, FINRA has been encouraging its members to take a risk-based approach to exams and compliance. This year, FINRA has released a new, consolidated annual report to help firms improve their risk and compliance programs. Yes, this report is longer than previous exam priorities letters, and yes it has a different format, but there… READ MORE
Osborne adds operations, clearing and integration depth to help firms stay competitive RICHMOND, Va., February 2, 2021 — Oyster Consulting announced today that David Osborne has joined the Strategic Planning and Execution team. With 30 years in the financial services industry, David Osborne’s leadership experience in operations, risk, vendor management and correspondent-related services bolsters Oyster’s… READ MORE
Now, more than ever before, firms need to prepare for the increase in CAT Reporting complexity and make sure they are well-positioned to surveil CAT reporting. On January 4, 2021, the last implementation of Option linkage compliance came into effect, and the industry completed the 2a and 2b phased implementation of CAT (Consolidated Audit Trail)…. READ MORE
On December 22, 2020 the SEC released its new Investment Adviser Marketing Rule, intended to modernize the regulatory framework. Most Investment Adviser firms will find a little bit of good news and a little bit of bad news within the 430 pages. The rule restructures frameworks, repeals as-yet-unspecified No-Action Letters and has new definitions for… READ MORE
On December 23, 2020, the SEC issued a request for comment regarding the application of the Customer Protection Rule to digital asset securities. With the request for comment, the SEC also issued a statement indicating that, if a broker-dealer operates under specific circumstances set out in the statement, it would not seek enforcement action on… READ MORE