A Look at FINRA’s 2023 Report on Examinations and Risk Monitoring

FINRA recently released its third annual combined examination and risk monitoring report (Report). As in prior iterations, the Report has sections devoted to firm operations; communications and sales; market integrity; and financial management. It also includes a new section highlighting financial crimes. 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 reviews the Report, with commentary from Daren R. Domina, partner at Haynes and Boone, LLP. For coverage of previous FINRA reports, see “FINRA Reports on Examinations and Risk Monitoring” (Apr. 7, 2022); “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); and “FINRA Exam Findings Report Covers Four Aspects of Its Supervisory Activities” (Jan. 30, 2020).

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