FINRA’s examination program has undergone its most significant reorganization in decades. As stated in this press release, FINRA’s goal for the reorganization was to “consolidate its Examination and Risk Monitoring Programs, integrating three separate programs into a single, unified program to drive more effective oversight and greater consistency, eliminate duplication and create a single point of accountability for the examination of firms.” The new look of the examination program was released, along with new management, on Dec. 12, 2019.

For 2020, FINRA is prioritizing risk monitoring, surveillance, and examination programs to further its mission of investor protection and market integrity.  The examination priorities are organized around four themes, which build on FINRA’s priorities from prior years: Sales practice and supervision; Market integrity; Financial management; and Firm operations.

Read more here.

Additional contributors to this post:

Emily Gordy,  egordy@mcguirewoods.com

Anitra T. Cassas,  acassas@mcguirewoods.com

Molly M. White, mwhite@mcguirewoods.com

Piper A. Waldron, pwaldron@mcguirewoods.com

Cari Hopfensperger from Hardin Compliance Consulting LLC shares these important deadlines and to-dos:

• Blue Sky Filings (Form D)
• Annual Renewal Program for IARD System
• 2020 Preliminary Renewal Statement is due in full on Monday, December 16, 2019.
• Supplemental Inventory Schedule (“SIS”)
• Statement Regarding Independent Public Accountant
• Rule 17a-5 Monthly and Fifth FOCUS Part II/IIA Filings
• Annual Audit Reports for Fiscal Year-End October 31, 2019  
• Supplemental Inventory Schedule (“SIS”)
• SIPC-3 Certification  
• SIPC-6 Assessment
• SIPC-7 Assessment