ZL Tech: FINRA Compliance Solution

Who falls under FINRA jurisdiction?

The Financial Industry Regulatory Agency (FINRA) is a financial self-regulatory organization overseen by the U.S. Security and Exchange Commission (SEC). FINRA monitors stockbrokers, securities representatives, and brokerage firms for any trading misconduct. While FINRA has its own transparency rules, they also help the SEC enforce its regulations.

What are FINRA compliance requirements?

FINRA Rule 4511 outlines the general recordkeeping requirements. Notably, all organizations within their purview must preserve their records and books in compliance with SEC Rule 17a-4, which requires all electronic records to be preserved in an archive for six years in a write once, read many (WORM) format.

FINRA Rule 3110 requires organizations establish a supervision system to review their activities, including transactions, customer complaints, and internal communications.

FINRA Rules 2210, 2212-2216 further detail the supervision criteria and requirements for retail, institutional, and public communications.

For a complete view of FINRA compliance requirements, refer to their website.

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