Webinar Recap: FINRA Enforcement Trends

FINRA-straightOn December 5, FSI and the FSI Compliance Council presented a webinar on current trends in FINRA enforcement actions. Brian Rubin and Andrew McCormick of Sutherland Asbill & Brennan LLP spoke at the webinar about the top enforcement issues in recent years, and noted that the five top enforcement issues in 2012 concentrated on suitability; due diligence; research report/research analysis; advertising, and exchange-traded funds.

In comparison, the focus changed to issues regarding electronic communications; short selling; books and records; municipal securities; and suitability, respectively, for 2013. The shift is an important one. As advisors rely more and more on the efficiencies of technology to conduct business, there is also a new level of compliance required to match.

As technology continues to advance, it is crucial that advisors stay informed regarding new regulatory actions and rules governing electronically-based interactions with clients.

How have changes in technology affected your business? Share your stories in the comments section!


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