S1:E6 | Recent Trends in SEC and FINRA Enforcement | Compliance In Context

Welcome back to the Compliance In Context Podcast! In this episode, we discuss recent rulemaking from FINRA on remote inspections of broker-dealers and check in with OCIE on a risk alert highlighting deficiencies seen in adviser branch exams.  Our interview segment today features SEC and FINRA enforcement guru Brian Rubin for a deep dive into recent trends from the regulators and what to look out for in the future. Finally, we continue the next installment of the Outtakes series to discuss the proper allocation of business and personal expenses.

Topics:

Headlines

• FINRA Proposes Rule Change on Remote Inspections
• OCIE Highlights Supervisory Deficiencies at Adviser Branch Offices

Interview

• Reviewing recent trends in SEC and FINRA enforcement actions.
• Forecasting future enforcement action stemming from COVID-19 and Reg BI
• Discussing recent remarks from SEC Commissioner Peirce on CCO liability
• Detailing NSCP Currents authorship and related topics Outtakes 

• The proper allocation of business versus personal expenses and how to avoid violations of federal securities laws

Quotes:

“We have heard that with regard to penalties and financial sanctions, we are looking at record numbers.” 

“In two, three years, I expect we’ll see enforcement actions related to Reg BI, as well.” 

"Ultimately, compliance is here to help elevate the services that our firms provide their respective clients...And so, we want to be able to reward those folks that are part of that process to help elevate those services.”

Resources:

Compliance in Context