{"id":968,"date":"2011-10-30T17:10:06","date_gmt":"2011-10-30T17:10:06","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/10\/finra_vows_to_stop_up_internal"},"modified":"2022-03-09T16:14:48","modified_gmt":"2022-03-09T22:14:48","slug":"finra-vows-to-stop-up-internal","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-vows-to-stop-up-internal\/","title":{"rendered":"FINRA Vows to Step Up Internal Compliance Procedures"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission has filed an administrative complaint against the Financial Industry Regulatory Authority accusing one of the latter’s directors of changing three sets of staff meetings minutes that SEC officials had requested. These revisions made the documents, which were delivered in August 2008, incomplete and inaccurate. This could affect FINRA’s chances of becoming the SRO for investment advisers. Currently, FINRA serves that role for just broker-dealers.<\/p>\n

It was FINRA that reported the document problem to the Commission and then worked with the agency to resolve the matter. The SRO then appointed new leadership in the Kansas office (the director has since resigned) where the tampering took place and implemented changes that improved procedures for document handling. Modifications included more live and online ethics training, as well as greater document integrity. Other undertakings FINRA has agreed to:<\/p>\n

\u2022\tTrain workers about past document integrity problems \u2022\tCreate a podcast on document integrity to show current and prospective employees \u2022\tTalk about the importance of document integrity at yearly regulatory meetings, townhall gatherings, and at Senior Management onsite visits at district offices \u2022\tMandate that senior Office of Liaison and Counsel meet with every business that is about to undergo an on-site exam before the documents are generated for the SEC <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has filed an administrative complaint against the Financial Industry Regulatory Authority accusing one of the latter’s directors of changing three sets of staff meetings minutes that SEC officials had requested. These revisions made the documents, which were delivered in August 2008, incomplete and inaccurate. 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