Highlights from the SEC’s 2021 Exam Priorities

SEC’s Division of Examinations (formerly OCIE) has released their Examination Priorities Report for 2021. While the release is not much of a departure from recent years, some of the older topics have been re-framed to include newer risks and practices. Among “relatively new” topics, the Division will be focusing on Fintech and Innovation, including Digital… READ MORE

FINRA Expands Scope of Reg BI Reviews in 2021

The 2021 Report on FINRA’s Examination and Risk Monitoring Program is designed to provide broker-dealers with important information that highlights the regulator’s priorities and annual insights regarding the scope and content of their upcoming examinations. The Report also identifies key areas each broker-dealer should consider as they assess the effectiveness of their firm’s compliance program…. READ MORE

FINRA’s 2021 Cybersecurity Focus

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

Oyster Consulting Hires David Osborne, Expands Strategic Planning and Execution Team

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

Consolidated Audit Trail: Moving on to Phase 2c

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