FINRA provides regulatory operations update

Federal Issues Covid-19 FINRA

On March 23, FINRA issued a statement providing that it will focus its regulatory operations on the following areas: (i) risk monitoring, market surveillance, and enforcement programs, prioritizing matters that present the most risk in this current environment; (ii) monitoring for fraud, illicit schemes, and other manipulative activities seeking to take advantage of the tumultuous conditions created by Covid-19 and ongoing market volatility; (iii) engaging in regular communication with firms and making targeted requests for information regarding financial and operational capabilities, among other matters; and (iv) providing guidance and targeted relief to member firms in meeting their regulatory obligations. The guidance also notes that FINRA is temporarily limiting new routine requests for information, including in connection with cycle examinations.