FINRA Enforcement works tirelessly on the front lines of investor protection, whether looking into cases of fraud or ways that bad actors try to manipulate the markets. This tremendous undertaking demands steadfast leadership. 

On this episode, we meet Bill St. Louis, the former head of FINRA’s National Cause and Financial Crimes Detection Program and FINRA's new Executive Vice President and Head of Enforcement, to learn more about the man at the helm and what's on the horizon for Enforcement in the new year.

Resources mentioned in this episode:

2024 FINRA Annual Regulatory Oversight Report

FINRA Enforcement Homepage

FINRA Names Bill St. Louis as New Head of Enforcement

FINRA Fines BofA Securities $24 Million for Treasuries Spoofing

FINRA Expels Monmouth Capital Management

Qualification Exams

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FINRA recently wrapped up a targeted review of the practices of certain member firms when it comes to communicating with retail investors regarding crypto products and services. On this episode, Ira Gluck, Senior Director, Advertising Regulation at FINRA, joins us to share the results of that crypto asset communications sweep that began in November 2022.

Resources mentioned in this episode:

Advertising Regulation Department

Crypto Asset Communications Targeted Exam Letter

Crypto Asset Key Topics

Crypto Sweep Update

FINRA Blog: An Inside Look into FINRA’s Crypto Asset Work

Episode 136: An Introduction to FINRA’s Crypto Asset Work and the Crypto Hub

Episode 137: The Crucial Role of FINRA’s CAI Team

Episode 138: FINRA’s Blockchain Lab

Rule 2210: Communications with the Public

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As a self-regulatory organization, information sharing is key to FINRA's pursuit of its mission of investor protection and market integrity, and no single resource is a better example of that than FINRA's Annual Regulatory Oversight Report. 

On this episode, Ornella Bergeron, Senior Vice President of Risk Monitoring, Omer Meisel, Executive Vice President of the National Cause and Financial Crimes Detection Program, Claire O'Sullivan, Vice President and Regulatory Advisor of Stakeholder Engagement, and Michael Solomon, Senior Vice President of Examinations, join us to discuss highlights from the 2024 report.

Resources mentioned in this episode:

2024 FINRA Annual Regulatory Oversight Report

Reg Notice 23-20: Guidance and Resources Related to Regulation Best Interest

Reg Notice 23-11: Concept Proposal for a Liquidity Risk Management Rule

Reg Notice 21-35: Proposed Order Routing Disclosure Requirements

SEC FAQ on Form CRS

CAT NMS Plan Website

Episode 136: An Introduction to FINRA’s Crypto Asset Work and the Crypto Hub

Episode 137: The Crucial Role of FINRA’s CAI Team

Episode 138: FINRA’s Blockchain Lab

Episode 129: A New Twist on New Account Fraud

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Succession planning, catastrophe planning, contingency planning--whatever you want to call it, these plans are important not just for customers and registered representatives but can even be a matter of life or death when it comes to the continued existence of a firm. 

On this episode, we talk to Jeanette Wingler, FINRA’s Special Assistant to the CEO, and Elena Schlickenmaier, a Senior Principal Analyst in Member Supervision, to dig into Regulatory Notice 22-23 on succession planning to hear how and why firms should plan for the expected and unexpected in life.

Resources mentioned in this episode:

Regulatory Notice 22-23

Rule 4370: Business Continuity Planning

Rule 2040: Payments to Unregistered Persons

Continuing Membership Application Resources

FINRA Examination and Risk Monitoring Programs

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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 go behind the scenes of this year's event to share with you the fireside chat between FINRA CEO Robert Cook and FINRA's Head of Member Relations, Kayte Toczylowski. 

Resources mentioned in this episode:

FINRA Webinars

FINRA Small Firm Conference Calls

Office of Hearing Officers

National Adjudicatory Council

Small Firm Advisory Committee

FINRA Board of Governors

Conferences & Events

Member Firm Hub

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Forget ghosts and goblins, few things are as scary as household finances for U.S. adults. In a recent nationally representative survey, more than 1,000 adults shared what worries them most in their lives. The most common answer? Money. 

On this episode, we sit down with Gerri Walsh, the head of the FINRA Investor Education Foundation, to discuss the recent survey and its findings, while also providing tips and resources to help make money a little less spooky.

Resources mentioned in this episode:

Investor Resources and Tools

FINRA Foundation Homepage

Consumer Insights: What really spooks Americans? Money.

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American consumers and investors are losing billions of dollars each year to financial fraud. It's a devastating problem for which almost no one is completely immune. But the 2023 FINRA Foundation Ketchum Prize recipient has dedicated his life to understanding what makes someone susceptible to fraud—and pioneering ways to fight it. On this episode, we hear from Dr. Doug Shadel to hear about his research and years of working as one of America's most active fraud fighters.

Resources mentioned in this episode:

2023 Ketchum Prize Announcement

AARP Foundation

AARP Fraud Watch Network

Stanford Financial Fraud Research Center

FINRA Investor Education Foundation

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FINRA oversees a diverse set of broker-dealer firms that make up a vibrant securities industry. But there's one thing all broker-dealer firms have in common. Every registered firm at one time or another must engage with FINRA's Membership Application Program, or MAP.

On this episode, Jante Turner, Senior Advisor and Head of Triage for FINRA's Membership Application Program speaks about how the MAP program kicked off a significant transformation in spring 2022, and where that initiative stands today.

Resources mentioned in this episode:

Episode 104: Streamlining FINRA's Gatekeeper Function

FINRA Information Notice 4/19/22 (FINRA Membership Application Program Transformation)

Broker-Dealer Registration

FINRA Standards for Admission

Form NMA

Continuing Membership Application Resources

FINRA Member Firm Hub

FINRA Firm Grouping Conference

Email: MAP Group

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In this third and final episode in our series covering FINRA's ongoing crypto asset regulatory work, we hear from FINRA's Blockchain Lab, which serves as a central point within FINRA for the development of blockchain-related regulatory initiatives.

Michael Oh, Senior Director of the Blockchain Lab, Brian Huerbsch, a Senior Blockchain Data Analyst, and Jason Foye, Senior Director and head of FINRA's Crypto Hub share how the Lab is supporting and advancing FINRA's regulatory work involving crypto assets.

Resources mentioned in this episode:

Episode 136: An Introduction to FINRA’s Crypto Asset Work and the Crypto Hub

Episode 137: The Crucial Role of FINRA’s CAI Team

Investor Insights: What Is a Blockchain, and Why Should I Care?

FINRA Blog: An Inside Look into FINRA’s Crypto Asset Work

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As the crypto asset space has grown, FINRA has evolved its oversight of the crypto asset activities of FINRA member firms and their associated persons. In this second episode of a three-part series covering FINRA's crypto asset-related regulatory work, we hear from Jamie Udinson, Senior Director of the Crypto Asset Investigations team, Taylor Etzell, a Senior Principal Investigator, and Jason Foye, Senior Director and head of FINRA's Crypto Hub, who provide insight into FINRA's Crypto Asset Investigations Team. 

We learn more about this dedicated group of investigators specializing in conducting complex crypto asset investigations and the crucial role it plays in ensuring compliance with existing rules and regulations in the crypto asset space.

Resources mentioned in this episode:

Episode 71: Overlapping Risks, Part 1: Anti-Money Laundering and Cybersecurity

Episode 72: Overlapping Risks, Part 2: Anti-Money Laundering and Elder Exploitation

Episode 117: Membership Application Program

Episode 136: An Introduction to FINRA’s Crypto Asset Work and the Crypto Hub

Rule 3270: Outside Business Activities of Registered Persons

Rule 3280: Private Securities Transactions of an Associated Person

FINRA Blog: An Inside Look into FINRA’s Crypto Asset Work

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