FINRA Unscripted

Detecting and deterring fraud and insider trading is at the core of FINRA's mission of investor protection and market integrity. On this episode, Sam Draddy, the head of FINRA's Market Investigations team, joins us once again to talk about the latest trends and patterns in FINRA's fraud and insider trading investigations, including some stories about some of the craziest and most interesting cases of the past few years.

How are we doing? Take the FINRA Unscripted survey today. 

Resources mentioned in this episode:

Episode 23: Insider Trading: Finding the Needle in the Haystack

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In February, FINRA issued its second Report on FINRA’s Examination and Risk Monitoring program, a comprehensive document that combines elements of what used to be the annual Priorities Letter and the Examination Findings Report. The report can serve as a reference document, addressing more than 20 topics of interest for firms and regulators from Regulation Best Interest and Form CRS to cybersecurity and mobile apps. 

On this episode, J Koutros, vice president of risk monitoring standards, Joe Sheirer, vice president of the examination program, and Steve Polansky, senior director of special initiatives, join us to talk about the report, some key highlights and how firms can use this extensive document. 

Resources mentioned in this episode:

2022 Report on FINRA’s Examination and Risk Monitoring Program

Episode 79: Year in Review: The 2020 Exam and Risk Monitoring Program

Episode 80: Exam and Risk Monitoring Program: Responding to COVID-19 and Looking Ahead

2022 FINRA Annual Conference

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We are celebrating 100 episodes of FINRA Unscripted! We’ve covered a lot of ground over the past four years and 100 episodes, but we wouldn’t have made it to this point without you, our listeners. 

To celebrate our 100th episode, we would love to hear from you. Take the quick, anonymous FINRA Unscripted survey today. With your help, we can make the next 100 episodes better than the last.

For today’s episode, we are going to hop in our DeLorean and take a listen to excerpts from a few of our greatest hits, including: 

Episode 33: Money Laundering in the Securities Industry

Episode 23: Finding the Needle in the Haystack

Episode 16: How FINRA Rules Get Made (And Reviewed)

Other resources mentioned in this episode:

Episode 86: FINRA’s Financial Intelligence Unit

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Greg Ruppert joined FINRA in 2020 to form and lead the National Cause and Financial Crimes Detection Programs. Now, he’s been tapped to lead Member Supervision, the team responsible for the surveillance and examination of FINRA member firms and for detecting and deterring activities that can cause investor harm. 

On this episode, we talk to Greg about how he views this transition in leadership and his goals and areas of focus in his new role.

How are we doing? Take the FINRA Unscripted survey today. 

Resources mentioned in this episode:

2022 Report on FINRA's Examination and Risk Monitoring Program

Episode 60: Introducing Greg Ruppert and the National Cause and Financial Crimes Detection Programs

Episode 86: FINRA’s Financial Intelligence Unit: Connecting the Dots

2021 Report on FINRA’s Examination and Risk Monitoring Program

PLI Podcast: Focus on FINRA Enforcement with Jessica Hopper

FINRA’s Upcoming Conferences and Events

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FINRA’s Market Regulation and Technology teams recently wrapped up an extensive project to migrate the majority of FINRA’s market manipulation surveillance program to using deep learning in what is perhaps the largest application of artificial intelligence in the RegTech space to date. 

On this episode, we hear from Susan Tibbs, senior vice president of Market Manipulation in the Market Regulation Quality of Markets group, and from C.K. Chow, principal developer with the Technology team, about how the use of deep learning is making FINRA’s market surveillance data more digestible and increasing the efficiency and flexibility of the program. 

How are we doing? Take the FINRA Unscripted survey today. 

Resources mentioned in this episode:

Episode 13: How the Cloud and Machine Learning Have Transformed FINRA Market Surveillance

Episode 67: FINRA’s R&D Program: Exploring the Future of Advanced Analytics

Episode 68: Augmenting the Exam and Risk Monitoring Program with Data Analytics and Technology

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In 2020, FINRA and the CE Council embarked on the biggest transformation of the continuing education program in 25 years. And in the months ahead, those major changes are going into effect. 

On this episode, we hear from Patricia Monterosso of FINRA's Credentialing, Registration, Education and Disclosure team and Elizabeth Hansen, the 2021 CE Council Chair, about what firms and reps can expect and why these changes will have such a big impact. 

How are we doing? Take the FINRA Unscripted survey today. 

Resources mentioned in this episode:

CE Council Website

Key Topics: Continuing Education

Regulatory Notice 20-05

Regulatory Notice 21-41

Maintaining Qualifications Program

Financial Professional Gateway (FinPro)

Episode 54: Enhancing Industry Continuing Education

Small Firm Conference Call: CE Transformation

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This episode originally aired in April 2021. 

The brokerage industry has an important role to play when it comes to detecting, preventing and reporting fraud. It's not just a regulatory concern, but an important reputational concern for individual firms and the industry as a whole. 

On this episode, we hear from Greg Ruppert, who was then head of FINRA's National Cause and Financial Crimes Detection Programs, but now heads Member Supervision, about recent trends in the fraud space and how firms can work to protect themselves and their customers.

Resources mentioned in this episode:

FTC Scam Alerts

FBI Fraud Resources

IC3 Annual Reports

Episode 60: Introducing Greg Ruppert and the NCFC

Episode 71: Overlapping Risks, Part I: AML and Cybersecurity

Episode 73: Overlapping Risks, Part II: AML and Elder Financial Exploitation

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Transparency plays a central role in promoting the fairness and efficiency of U.S. markets, lowering transaction costs, leveling the playing field and enhancing public trust in our markets. And the data market transparency provides serves as the lifeblood of FINRA's surveillance program. 

On this episode, we hear the Market Regulation and Transparency Services’ Jon Kroeper, executive vice president of the Quality of Markets Group, and Ola Persson, senior vice president and head of Transparency Services, about FINRA's historical commitment to market transparency and how it has impacted FINRA's regulatory regime.

Resources mentioned in this episode:

Trade Reporting and Compliance Engine (TRACE)

Consolidated Audit Trail (CAT)

Regulatory Notice 20-43

Advancing Market Regulation and Transparency

Episode 13: How the Cloud and Machine Learning Have Transformed FINRA Market Surveillance 

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The small firm community, those firms with 150 or fewer registered financial professionals, came together in October to discuss and engage on key areas of concern at the Small Firm Conference. 

On this episode, we're taking you behind the scenes of this year's event with an abridged look at the fireside chat with FINRA CEO Robert Cook and Executive Vice President Greg Ruppert, moderated by FINRA's head of Member Relations Kayte Toczylowski.

Resources mentioned in this episode:

Trusted Contact Resources

Racial Justice Task Force

2021 Report on FINRA’s Examination and Risk Monitoring Program

Cybersecurity Resources

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For service members, a missed credit card payment might do more than just ding their credit report, it could also jeopardize a hard-fought promotion. And for their spouses, move after move might be more than just a financial or logistical hardship; it might also be the biggest hurdle in their own career growth. These challenges are two sides of the same coin. The FINRA Foundation Military Spouse Fellowship Program is just one program that is aiming to address both sides. 

On this episode, we sit down with FINRA Military Spouse Fellows Heather Baker, Shay Cook and Andia Dinesen to learn more.

Resources mentioned in this episode:

AFCPE FINRA Foundation Military Spouse Fellowship

Find an AFCPE Certified Professional

Yellow Ribbon Network/Coordinated Assistance Network

Military OneSource

Coast Guard Support

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