Emily Gordy was quoted in a
Jan. 10, 2020, FundFire article on the Financial Industry Regulatory Authority’s examination priorities for
2020. FINRA issues the Priorities Letter to provide financial firms with
important information on key regulatory issues. This guidance assists firms
in their own reviews of their regulatory compliance, risk and supervisory
programs. Among others, the key focus areas highlighted by FINRA included
cash management and bank sweep programs, best execution, and cybersecurity.
According to the article, in the first part of the year, FINRA will check
in with firms to see if they’re prepared to implement the new Regulation
Best Interest rules before the June 30 compliance date. Among other
priorities, FINRA also will assess the technology governance programs used
at financial firms “due to the proliferation of technology used for
trading, operations, back-office and compliance programs.”
“If you don’t have protocols in place, all aspects of decision-making
around bringing on new technology or changing a firm’s current technology
run the risk of having gaps” in regulatory compliance, Gordy told FundFire, a Financial Times subsidiary.
Gordy also was quoted in a
Jan. 9, 2020, Investment News article on the same topic.