FINRA recently released its annual combined examination and risk monitoring report (Report). The Report has sections devoted to firm operations; communications and sales; market integrity; and financial management. Each topic in the Report includes a brief discussion of the relevant FINRA rules and rules under the Securities Exchange Act of 1934 and lists considerations concerning those rules, relevant examination findings and associated effective practices. This article explores FINRA’s principal findings and recommendations in the Report. For coverage of previous FINRA reports, see “FINRA Annual Report Highlights Exam Findings and Risk Monitoring Results” (Mar. 11, 2021); “FINRA Outlines Its 2020 Risk Monitoring and Exam Priorities” (Mar. 12, 2020); “FINRA Exam Findings Report Covers Four Aspects of Its Supervisory Activities” (Jan. 30, 2020); and “FINRA Report Highlights Common Broker-Dealer Compliance Shortcomings” (Jan. 24, 2019).