Podcasts about Financial Industry Regulatory Authority

Third-party risk is the most clicked-on topic in FINRA's 2025 Regulatory Oversight Report. But what is third-party risk and why are people so interested in it? What can FINRA member firms do to mitigate that risk? And how can FINRA help?On this episode of FINRA Unscripted, FINRA's Executive Vice President of Member Supervision Greg Ruppert shares valuable insights on why firms are facing heightened challenges with third-party vendors, the emerging risks posed by fourth-party relationships, and how FINRA's intelligence sharing is helping member firms protect themselves from vendor-related cybersecurity threats.Resources mentioned in this episode:2025 Annual Regulatory Oversight ReportCEO Blog: New FINRA Initiatives to Support Members, Markets, and the Investors They ServeFINRA Cybersecurity GuidanceEp. 170: Using Data to Stay Ahead of Risk: Introducing FINRA's StratIntel TeamEp. 169: Unpacking FINRA's 2025 Regulatory Oversight Report Find us: X / YouTube /LinkedIn / Facebook / E-mail

This month, we are marking the 10th anniversary of the FINRA Securities Helpline for Seniors—an important milestone for a critical service that FINRA provides to protect vulnerable investors and assist harmed investors. On this FINRA Unscripted podcast episode, we will be speaking with leaders from FINRA's Vulnerable Adults and Seniors Team—Elizabeth Yoka, the manager of VAST Intake, and Michael Paskin, the manager of the VAST Investigations, to discuss the Helpline and its 10 years of protecting investors. We will be focusing on the Helpline results and will provide a few examples of how the Helpline has become an effective conduit for investor protection, and how it has been helpful to member firms. Resources mentioned in this episode: FINRA Securities Helpline for Seniors Ep. 152: Fighting Financial Exploitation: FINRA's Vulnerable Adults and Seniors Team FINRA Rule 2165 FINRA Rule 4512 FINRA Rule 3241 2025 Annual Regulatory Oversight Report Find us: X / YouTube /LinkedIn / Facebook / E-mail

As we observe National Consumer Protection Week amid a growing and changing financial fraud landscape, the time is ripe to talk about the ways in which investors can protect themselves from financial scams. On this episode, we sit down with Rob Mascio, Director of the FINRA Investor Education Foundation, to talk about the latest fraud trends, common red flags to watch out for and practical steps investors can take to safeguard investments. Resources mentioned in this episode:2025 Annual Regulatory Oversight ReportInvestor Alert: Social Media ‘Investment Group' Imposter Scams on the Rise Romance ScamsFINRA Securities Helpline for SeniorsBrokerCheckMarket Data CenterFund AnalyzerFixed Income DataFINRA Investor Education FoundationProtecting Consumers from FraudEp 162: The Victim Experience: When Romance Leads to Crypto ScamEp. 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial GoalsEp. 169: Unpacking the 2025 Regulatory Oversight Report Find us: X / YouTube /LinkedIn / Facebook / E-mail

As the financial industry continues to evolve, it's important to stay ahead of emerging risks and trends. On this episode of FINRA Unscripted, the leaders of FINRA's new Strategic Intelligence and Analytics (StratIntel) team discuss how they are working to identify and analyze these industry developments.On this episode, we sit down with the leaders of the StratIntel team: Senior Vice President of Data and Analytics for Member Supervision Jim Reese, and his two Vice Presidents, Brita Bayatmakou and Clint Johnson. The three share insights on how this new team is evolving FINRA's approach to intelligence gathering and risk monitoring, and the innovative ways they are using data and analytics to support FINRA's mission of investor protection and market integrity.Resources mentioned in this episode:2025 Regulatory Oversight Report3110. SupervisionEpisode 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial GoalsEpisode 169: Unpacking FINRA's 2025 Regulatory Oversight Report Find us: X / YouTube /LinkedIn / Facebook / E-mail

As a self-regulatory organization, information sharing is key to FINRA's pursuit of its mission of investor protection and market integrity. The 2025 FINRA Regulatory Oversight Report provides just that: Critical insights to help firms strengthen their compliance and protect investors.On this episode, hosted by Member Relations and Education Vice President Kayte Toczylowski, FINRA's regulatory leaders— Executive Vice President and Head of Member Supervision Greg Ruppert, Executive Vice President and Head of Market Regulation and Transparency Services Stephanie Dumont, and Executive Vice President and Head of Enforcement Bill St. Louis—join us to dive into the report's takeaways and insights for member firms.Resources mentioned in this episode:2025 Regulatory Oversight ReportSEC Regulation Best Interest (Reg BI)5310. Best Execution and InterpositioningReg Notice 20-31: FINRA Reminds Firms of Their Supervisory Responsibilities Relating to CATInvestor Insights: Artificial Intelligence (AI) and Investment FraudEpisode 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial Goals Find us: X / YouTube /LinkedIn / Facebook / E-mail

Many of us view January as a time to make a fresh start, and as a time to bid farewell to bad habits. In thinking about your New Year's resolutions, have you considered whether you're making financially healthy decisions?On this episode, we sit down with Gerri Walsh, President of the FINRA Investor Education Foundation and Senior Vice President of Investor Education, to uncover the trends and tips investors need to get their finances in order for 2025. Resources mentioned in this episode:BrokerCheckMarket Data CenterFund AnalyzerFixed Income DataFINRA Investor Education FoundationProtecting Consumers from Fraud Find us: X / YouTube /LinkedIn / Facebook / E-mail

Alpine Securities Corp. v. Financial Industry Regulatory Authority (“Alpine’) raises a challenge to the constitutionality of the structure and regulatory authority of the Financial Industry Regulatory Authority (FINRA) before the U.S. Court of Appeals for the District of Columbia Circuit. Alpine Securities, a brokerage firm, argues that the structure of FINRA violates the U.S. Constitution, particularly the Appointments Clause (Article II, Section 2), and the separation of powers doctrine. The company contends that FINRA, which operates as a self-regulatory organization (SRO), is improperly structured because its disciplinary and regulatory authority is exercised without sufficient oversight by the federal government or the President, who would normally appoint officers exercising such powers.Alpine's central argument is that FINRA's board members are not appointed by the President, nor are they subject to Senate confirmation, as required by the Appointments Clause and the private non-delegation doctrine for officers of the United States. Alpine contends that, as a private, non-governmental entity, FINRA is composed of individuals who are not accountable to the public or elected officials in the same way that government agencies are. This, Alpine argues, makes its regulatory and enforcement powers unconstitutional. FINRA argues, however, that its regulations and enforcement decisions are under close scrutiny by the SEC, and, thus, that this delegation of federal power to it, a private regulator, is constitutionally permissible. FINRA also worries that accepting Alpine’s arguments could bring destabilizing and potentially disastrous consequences to the self-regulatory framework of the markets.The case involves questions about the balance between public regulatory authority and private self-regulation within the securities industry. The outcome could have significant implications for the structure of SROs like FINRA, which play a key role in regulating the securities industry but operate outside the direct control of the government.The Corporations, Securities & Antitrust Practice Group of the Federalist Society is pleased to present this FedSoc Forum on the Alpine case. Join us in discussing the arguments raised in the case and the DC Circuit’s opinion, as well as the implications for securities industry self-regulation going forward.Featuring:Brian Barnes, Partner, Cooper & Kirk PLLC, Lead Counsel for AlpineW. Hardy Callcott, Partner, Sidley Austin LLPModerator: Joanne Medero, Former Managing Director, BlackRock Inc.--To register, click the link above.

Sources:As Nationwide Fraud Losses Top $10 Billion in 2023, FTC Steps Up Efforts to Protect the Public. (2024, February 9). Federal Trade Commission. https://www.ftc.gov/news-events/news/press-releases/2024/02/nationwide-fraud-losses-top-10-billion-2023-ftc-steps-efforts-protect-publicBBB Tip: 10 steps to avoid scams. (2024, June 21). Better Business Bureau. https://www.bbb.org/article/tips/8767-bbb-tips-10-steps-to-avoid-scamsThe Latest Scams You Need to Be Aware of in 2024, By DeNicola, L. (2023, December 30). https://www.experian.com/blogs/ask-experian/the-latest-scams-you-need-to-aware-of/​​Empowering Fraud Fighters. (n.d.). Financial Industry Regulatory Authority Foundation. https://www.finrafoundation.org/networks-we-strengthen/fighting-fraudInternet Crime Report 2023 by The Federal Bureau of Investigations. (2024). In Internet Crime Complaint Center. https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3Report.pdf National Center for Victims of Crime, Financial Crime Resource Center: https://victimsofcrime.org/financial-crime-resource-center/ Financial Crimes Enforcement Network, FinCEN Resource Center: https://www.fincen.gov/fincen-resource-centerFletcher, E. (2023, October 6). Social Media. Federal Trade Commission. https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2023/10/social-media-golden-goose-scammersIdentity Fraud Cost Americans $43 Billion in 2023. (2024, April 10). American Association of Retired People. https://www.aarp.org/money/scams-fraud/info-2024/identity-fraud-report.htmlIs Fraud Always a Federal Crime? (2024, March 20). Stechschulte Nell. https://www.tpatrialattorneys.com/fraud-always-federal-crime/Criminal Consumer Fraud, Must the Goals of Deterrence and Compensation Be Mutually Exclusive? By The American Journal of Criminal Law, Kirschner, N. M. (1979). https://www.ojp.gov/ncjrs/virtual-library/abstracts/criminal-consumer-fraud-must-goals-deterrence-and-compensation-beRecovering From Online Fraud. National Crime Victim Law Institute: https://ncvli.org/recovering-from-financial-fraud-and-identity-theft-services-for-victims/#:~:text=%E2%80%93Identity%20Theft%20Resource%20Center%20What Are Some Common Types of Scams? (2024, March 13). Consumer Financial Protection Bureau. https://www.consumerfinance.gov/ask-cfpb/what-are-some-common-types-of-scams-en-2092/Resources:FBI Internet Complaint Center: https://www.ic3.gov/FBI Tip Center: http://tips.fbi.govBBB Scam Risk Calculator: https://www.bbb.org/all/scam-prevention/risk-calculatorCybercrime Support Network: https://fightcybercrime.org/Identity Theft Resource Center: https://www.idtheftcenter.org/Financial Industry Regulatory Authority: https://www.finra.org/Report Fraud to the Federal Trade Commission: https://reportfraud.ftc.gov/For additional resources and a list of related non-profit organizations, please visit http://www.somethingwaswrong.com/resourcesFollow Something Was Wrong:Website: somethingwaswrong.com IG: instagram.com/somethingwaswrongpodcastTikTok: tiktok.com/@somethingwaswrongpodcast Follow Tiffany Reese:Website: tiffanyreese.me IG: http://www.instagram.com/lookieboo The Data Points cover art is by the Amazing Sara Stewart. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Behind every market transaction lies a wealth of data. But how can we harness this information? On this episode, we sit down with two members of the Market Regulation and Transparency Services team, Senior Vice President of Strategic Regulatory Engagement Alex Ellenberg, and Senior Director of Transparency Services Equities Brendan Loonam. They join us to discuss periodic aggregate market data sets, including some new data recently added to FINRA's website, and how FINRA makes this information available to the public in support of its mission of investor protection and market integrity.Resources mentioned in this episode:FINRA DataOTC Transparency DataNMS Equity and Option Order Routing Reports (SEC Rule 606(a) Reports)About NMS Equity and Options Routing Reports (SEC 606(a) Reports)OTC (ATS & Non-ATS) TransparencyReg Notice 23-10: FINRA Requests Comment on a Proposal to Require Members to Provide Rule 605 Order Execution Quality Reports to FINRA for Centralized PublicationEpisode 149: MRTS 2.0: A Redesign for a Rapidly Evolving Market Find us: X / YouTube /LinkedIn / Facebook / E-mail

This episode originally aired in August 2023. In 2022, FINRA developed an enterprise-wide strategy to ensure it is prepared for an evolving crypto asset regulatory landscape and created the Crypto Hub, the Blockchain Lab and the Crypto Asset Investigations TeamOn this episode, the first in a three-part series, we sit down with Omer Meisel, Senior Vice President of the Complex Investigations and Intelligence Group, Jason Foye, Senior Director and Head of FINRA's Crypto Hub, and Reema Abdelhamid, a Director with FINRA Enforcement to learn more about the strategy and the role of the Hub and FINRA's work to advance its mission of investor protection and market integrity.Resources mentioned in this episode:FINRA Blog: An Inside Look into FINRA's Crypto Asset WorkEpisode 112: FINRA's Complex Investigations and Intelligence Team & Cyber and Analytics UnitEpisode 138: FINRA's Blockchain Lab: Regulation and Innovation For The FutureEpisode 145: Compliance and Communication: An Update on FINRA's Crypto Asset Targeted ExamEpisode 158: An Update on FINRA's Crypto Asset Work and the Crypto HubEpisode 162: When Romance Leads to a Crypto ScamInvestor Insights: What Is a Blockchain, and Why Should I Care? Find us: X / YouTube /LinkedIn / Facebook / E-mail

Judy Bornstein, Boomer, joins me to discuss conflict – whoa! Judy is the Founder of C Suite Resolutions, where she provides mediation, ombuds services, conflict and negotiation coaching, and corporate trainings to organizations and executives. She has worked extensively as a CFO and Chief Compliance Officer, and brings her business experience to her work in addressing conflict. Topics Covered: Conflict definition Disagreement vs conflict Gossip Consequences of pushing down conflict Costs involved in unresolved conflicts How organizations set themselves up to handle conflicts Ombuds (trained independent designated neutral to build trust) Working in conflict and understanding our reactions Mediations Three Episode Takeaways   1.   If we only think of conflict as a fight we can lose that it can be a really powerful engine for creativity, change, and self-reflection. 2.   Responses to conflict can fall along gender lines. Many women are raised to “be nice” and “be good”, and told “don't make a scene”. Women may be uncomfortable acknowledging a conflict so will be quiet or not address it directly, and there is less latitude for women to express conflict than is often afforded to men 3.   Humans are naturally (evolutionarily) wired to not like conflict, so that means our managers, bosses, and leaders probably don't like conflict. As a result conflict may pushed down or silenced, which can lead to unintentional consequences like blaming the people involved rather than learning from the situation. Conflict is an inherent part of growth and innovation in organizations.   Great Quotes: Hope is not a strategy. We may have conflict because we are wise enough to see the complexity in our world. If you have conflict in your life it doesn't mean there's something wrong with you.  Conflict can be perplexing.   Episode Resources:   Baruch Bush: https://www.beyondintractability.org/bksum/bush-promise   More About Judy:   Judy is a doctoral candidate at Penn State University where her research interests center around organizational conflict. She holds a Masters in Dispute Resolution from Pepperdine University's Caruso School of Law, and an MBA from Simmons University in Boston, where she graduated first in her class. Judy is a Mediation trainer and serves on the San Francisco Bar Association Mediation Panel and on the Arbitration Panel for FINRA (the Financial Industry Regulatory Authority). She is a regular mediator for the Congress of Neutrals where she mediates court cases in Contra Costa County, CA. Judy also co-facilitates a Transformative Mediation group inside San Quentin State Prison, where she offers mediation and conflict-resolution training to incarcerated men interested in non-violent conflict resolution.     How to reach Judy:   LinkedIn: https://www.linkedin.com/in/judybornstein/ Email: jb@csuiteresolutions.com Website: www.csuiteresolutions.com   How to reach Yo Canny:    Our website: www.girltaketheleadpod.com  You can send a message or voicemail there. We'd love to hear from you!   email: yo@yocanny.com   FB group: Girl, Take the Lead https://www.facebook.com/groups/272025931481748/?ref=share   IG: yocanny   YouTube   LinkedIn: https://www.linkedin.com/in/yocanny/

In the securities world today, there is little daylight between money laundering and fraud. As these two spaces have come to increasingly overlap, FINRA created the Special Investigations Unit, or SIU, to detect and investigate cases illicit finance, market abuse and other fraud. On this episode, we sit down with SIU Senior Director Gargi Sharma, and three investigative directors from her team: Kayla Le, Peter Gonzalez and David Byrne. They join us to share how they work to proactively identify and mitigate threats related to money laundering and other frauds.Resources mentioned in this episode:Reg Notice 21-14: FINRA Alerts Firms to Increase in ACH Instant Funds AbuseReg Notice 22-25: Heightened Threat of FraudReg Notice 23-06: Effective Practices to Address Risks of Fraudulent Transfers2023 Report on FINRA's Examination and Risk Monitoring Program2024 FINRA Annual Regulatory Oversight ReportInvestor Insight: Ramp-and-Dump ScamsInvestor Insight: Investment Group Imposter ScamsEpisode 33: AML in the Securities IndustryEpisode 129: Detecting and Preventing ACATS FraudEpisode 154: FINRA's High-Risk Representative ProgramEpisode 157: An Update on FINRA's Financial Intelligence Unit Episode 161: FINRA CEO Robert Cook on Disrupting the Cycle of Financial Fraud Find us: X / YouTube /LinkedIn / Facebook / E-mail

Host Aaron Bush welcomes Shahar Sorek, CMO of Overwolf, and Nick Tuosto, co-founder of Griffin Gaming Partners and GoodGame Advisors, to discuss the growing – and increasingly interconnected – impact of transmedia and modding on the gaming industry. As beloved entertainment IPs partner with more types of game creators, we examine how these transmedia efforts are reshaping consumer behaviors and evolving the market, especially with the younger UGC-native generation and as UGC creation gets more professionalized. Our guests share insights into how cross-platform support and new technologies, especially AI, are democratizing creation and unlocking new possibilities. They also share best practices for both publishers and brands who want to make UGC an effective strategy. Tune in to discover what lies ahead for the intersection of UGC and transmedia.We'd also like to thank Neon – a merchant of record with customizable webshops optimized for conversion – for making this episode possible! Neon is trusted by some of the biggest names in gaming and can help you sell direct without the typical overhead. To learn more, visit https://www.neonpay.com/?utm_source=naavik If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co.Who's On:Guest - Shahar Sorek: https://www.linkedin.com/in/%F0%9F%90%B0-shahar-sorek-83ab299/ Guest - Nick Tuosto: https://www.linkedin.com/in/ntuosto/ Host - Aaron Bush: https://www.linkedin.com/in/aaron-bush-846b8185/ Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.Disclosure: GoodGame provides independent financial advice on mergers, acquisitions, financial restructurings and similar corporate finance matters. All investment banking and securities brokerage services are preformed through our partner, Belzberg Capital LLC (“Belzberg”), a member of the Financial Industry Regulatory Authority, Inc. (www.finra.org). GoodGame, through Belzberg, performs advisory services in connection with underwritings and does not sell underwritten securities to investors. Neither GoodGame nor Belzberg is a retail broker-dealer, and it does not provide research or analyst reports or solicit or carry accounts for, or offer or sell securities products to, retail customers.

Gen X is often called the Forgotten Generation given how often they're overlooked in favor of conversation around boomers, millennials or now even Gen Z. But not today. On this episode, Gen X is the one in the spotlight as we sit down Gary Mottola, research director with the FINRA Foundation, Ritta McLaughlin, director of community outreach with FINRA's Investor Education team, and Jeremy Ko, the 2024 FINRA Foundation Ketchum Visiting Scholar, to dig into the financial health of those born between 1965 and 1980 and, importantly, their perception of their own financial well-being. Resources mentioned in this episode:How Gen X Compares Financially to Other Generations: Doing Alright but Feeling BadFINRA Foundation National Financial Capability StudyEpisode 19: Debunked: 7 Myths about Millennials—the Underinvested GenerationEpisode 22: Millennials and Money: How to Get Started on the Road to InvestingEpisode 134: Gen Z Investors: A Look at the Attitudes and Behaviors of the Youngest Investors[KK1]Need link Find us: X / Facebook / LinkedIn / E-mail

Why do we engage with scammers? What makes one person more likely to engage than the next? Of those that engage, what makes someone more likely to lose money? These are important questions to ask – and find the answers to – both as consumers and as an industry with an interest in disrupting the cycle of financial fraud. On this episode, we hear from moderator Emma Fletcher, a senior data researcher with the FTC, and panelists Marti DeLiema, Assistant Research Professor at the University of Minnesota, Twin Cities, Duygu Başaran Şahin, a postdoctoral research fellow at the RAND Center for the Study of Aging, and Gary Mottola, research director for the FINRA Foundation, about the latest research into these important questions and learn more about what might stop someone from engaging with a fraud to begin with.Resources mentioned in this episode:Exposed to Scams: What Separates Victims from Non-VictimsDoes One Size Fit All? An Examination of Risk Factors by Scam TypeFraud Victimization Across the Lifespan: Evidence on Repeat Victimization Using Perpetrator DataAddressing the Problem of Chronic Fraud VictimizationVulnerability of Older Adults to Government Impersonation ScamsA Review of Scam Prevention Messaging ResearchProtecting Retail Customers from Gift Card Payment ScamsFINRA Foundation Research Center Find us: X / Facebook / LinkedIn / E-mail

The number of highly sophisticated crypto scams is growing, with Americans losing an estimated $5.6 billion to crypto-related scams in 2023, according to the FBI, a 45 percent jump from the prior year. And often crypto fraud is tied in with romance scams, with criminals targeting victims through texts, dating sites, social media, networking channels or other apps. While we all like to think we would be immune to such scams, research has shown time and again that everyone is vulnerable, even the most highly educated among us. On this episode, we hear the firsthand accounts of Jules and Brian, two victims of romance crypto scams, who recently spoke at a FINRA Foundation conference on disrupting the cycle of financial fraud. They sat down with Kim Casci-Palangio, program manager of the Cybercrime Support Network (CSN), to share their experiences, the financial, mental and emotional toll they took, and their efforts to recover from their loss. This audio was edited to remove personally identifying information about our victims.Resources mentioned in this episode:Cybercrime Support NetworkRomance Scam Recovery GroupFINRA FoundationFBI Internet Crime Complaint Center (IC3)Non-Traditional Costs of Financial FraudInvestor Alert: Relationship Investment Scams‘Pig Butchering' Scams: What They Are and How to Avoid ThemCrypto Investment Scams Infographic Find us: X / Facebook / LinkedIn / E-mail

FINRA's Examinations team carries out one of FINRA's core functions in the examination of FINRA member firms. In an effort to continuously improve the program, the team has undertaken changes to create efficiencies before, during and after the exam process. On this episode, Michael Solomon, executive vice president of Examinations and the Membership Application Program, Tom Mellett and John Martino, both vice president of Firm Group Examinations, join us to detail some of the recent changes, including the introduction of thematic reviews, changes to the post-exam closeout process and more.Resources mentioned in this episode:Episode 132: The Ins and Outs of FINRA's Annual Program2024 Regulatory Oversight ReportTargeted (Sweep) Exam Letters Find us: X / Facebook / LinkedIn / E-mail

FINRA's Membership Application Program (MAP) team serves as the first point of contact for firms looking to enter the broker-dealer industry. It works both to protect investors by ensuring would-be member firms meet FINRA standards of admission, and to help new and existing firms grow and evolve, ensuring a vibrant market for all.On this episode, Cindy Foster, Vice President of MAP, joins us to share more about FINRA standards of admission and how the group works to ensure a smooth process for both current and prospective member firms. Resources mentioned in this episode:Member Application RulesBroker-Dealer RegistrationFINRA Standards for AdmissionEpisode 117: Reviewing and Approving Digital Asset FirmsMAP Tools and VideosMAP FAQsChecklist for Mandatory Materiality ConsultationResidential Supervisory Locations (RSL) FAQsPhone: 212-858-4000, option fiveEmail: MAPintake@finra.org Find us: X / Facebook / LinkedIn / E-mail

Last summer, we introduced listeners to FINRA' Crypto Hub and enterprise-wide strategy for keeping up with the evolving crypto asset regulatory landscape. A year later, this remains an important area of focus for investors, the industry and FINRA. On this episode, Jamie Udinson, senior director of the Cyber and Analytics Unit, Michael Yuan, a director with FINRA's Risk Monitoring program, and Jason Stralka, an examination manager with the Exam program, join us to provide an update on FINRA's crypto asset work, to dig into the results of a recent survey of member firms regarding their crypto-asset touchpoints, to tell us about the new spot Bitcoin ETP market and more.Resources mentioned in this episode:2024 Regulatory Oversight Report: Crypt Asset DevelopmentsCrypto Assets Key Topic PageEpisode 136: An Introduction to FINRA's Crypto Asset Work and the Crypto HubEpisode 137: The Crucial Role of FINRA's CAI TeamEpisode 138: FINRA's Blockchain LabEpisode 145: An Update on FINRA's Crypt Asset Targeted Exam Find us: X / Facebook / LinkedIn / E-mail

FINRA's Financial Intelligence Unit acts as a nerve center for information on emerging threats impacting the financial industry with the aim of providing actionable intelligence to firms, other regulators and law-enforcement to keep investors safe. On this episode, Blake Snyder, senior director of FIU, joins us to share how the group has grown and matured over the last few years and how they are evolving the way they share information, including through the introduction of the new Threat Intelligence Products, or TIPs.Resources mentioned in this episode:Episode 33: AML in the Securities IndustryEpisode 86: Introducing FIUTIP: Protecting Vulnerable Adult and Senior InvestorsInvestor Insight: Pig Butchering ScamsInvestor Insight: Ramp-and-Dump ScamsRegulatory Notice 22-25National Cyber-Forensics and Training Alliance (NCFTA)InfraguardFIU@finra.org Find us: X / Facebook / LinkedIn / E-mail

Financial social media influencers—or finfluencers—are growing in popularity as a cheap way to reach a new generation of investors. But using these individuals to promote a firm its products or services comes with risks, as revealed by the results of a recent targeted review of FINRA member firm practices in the space. On this episode, Ira Gluck, senior director of Advertising Regulation, and Melissa Turitz, a director with FINRA Enforcement, dig into the results of the finfluencer target review, the risks and regulatory requirements around this newer form of advertising and share some best practices for firms looking to make use of social media influencer programs. Resources mentioned in this episode:Reg Notice 17-18: Guidance on Social Media and Business CommunicationsFebruary 2023 Finfluencer Sweep UpdateRule 2210 – Communications with the PublicPress release – March Finfluencer Enforcement ActionApril Finfluencer Letter of Acceptance, Waiver and Consent (AWC)Gen Z and Investing: Social Media, Crypto, FOMO and Family (Research Report)Episode 134: A Look at the Attitudes and Behaviors of the Youngest Investors Find us: X / Facebook / LinkedIn / E-mail

He is a former financial advisor with Morgan Stanley with an exemplary career in financial services, has completed his new book "CHECKMATE: The Morgan Stanley Whistleblower": a powerful true story that follows the author as he discovers Morgan Stanley's practice of selling unsecured surplus notes, and his crusade to protect the firm's clients while trying to right the wrongs Morgan Stanley committed. Author Dana de Windt's career in financial services initially began with EF Hutton in 1975. Along with developing an outstanding relationship with many clients, de Windt was asked to co-manage seven EF Hutton offices in South Florida. He became a respected industry arbitrator, presiding over many types of arbitrations for the Financial Industry Regulatory Authority. His book is a must read! https://www.mswhistleblower.com/http://www.yourlotandparcel.org

In late May, certain amendments to FINRA's margin rule, Rule 4210, went into effect to address a significant source of potential systemic risk and risk to FINRA member firms. The amendments introduced specific margin requirements related to covered agency transactions. On this episode, we talk to David Aman, senior advisor, and James Barry, director of Credit Regulation, both with FINRA's Office of Financial and Operational Risk Policy, and with Michael MacPherson, a senior advisor with Member Supervision's Risk Monitoring team, to learn more about the purpose of the rule, which firms might be impacted by the change and what those firms need to think about to ensure compliance with the amended rule. Resources mentioned in this episode:Contact: coveredagencymargin@finra.orgKey Topics: MarginFAQs Regarding Covered Agency Transaction Margin under FINRA Rule 4210Reg Notice 23-14: Amendments to Covered Agency Transaction Requirements Under FINRA Rule 4210 Find us: X / Facebook / LinkedIn / E-mail

Protecting investors from harm is a top FINRA priority. And when it comes to specific individuals who may pose a risk, FINRA's High Risk Representative (HRR) Program is on the case. On this episode, Brooks Brown, Senior Director, and Eric Hebert and John Salerno, Investigative Directors, from the HRR unit join us to explain how they identify and monitor individuals who pose an elevated risk of misconduct to protect investors and maintain the integrity of the market. Resources mentioned in this episode:Episode 114: Bringing Cases Against Individual BrokersEpisode 150: A Cybersecurity Update with FINRA's Complex Investigations and Intelligence Team (CII)Key Topic: Protecting Investors from MisconductVirtual Conference Panel: Supervision of High-Risk Activities Find us: X / Facebook / LinkedIn / E-mail

Every day, FINRA's Insider Trading Detection Program uses sophisticated technology and analytics to monitor 100% of trading in stocks, options and bonds for potentially suspicious activity around material news events, resulting in hundreds of referrals to the SEC and law enforcement every year. On this episode, we hear from Sam Draddy, a Senior Vice President of the Market Abuse Unit within FINRA's Market Regulation and Transparency Services, and Karen Braine, Vice President of the Insider Trading Detection Program, about how they connect trading data, information from public sources and from companies and FINRA firms to pull together actionable intelligence. Resources mentioned in this episode:Episode 23: Insider Trading: Finding the Needle in the HaystackBlog: FINRA Plays a Vital Role in Exposing Insider TradingSEC Litigation Release: Sean R. Steward et al.SEC Litigation Release: Andreas BechtolsheimSEC Litigation Release: Joseph C. Lewis et al. Find us: X / Facebook / LinkedIn / E-mail

Senior investor protection has long been a priority for FINRA, and the Vulnerable Adults and Seniors Team (VAST) is at the forefront of FINRA's efforts in this space. On this episode, we hear from Brooke Hickman, Director of the Vulnerable Adults and Seniors Investigative Team, Mike Paskin, a manager with VAST Investigations, and Liz Yoka, a manager of the VAST Intake team, to hear how the groups work with individual investors, firms, states and other regulators to prevent and detect financial exploitation of senior and other vulnerable investors.Resources mentioned in this episode:2024 Annual Regulatory Oversight ReportEpisode 72: Anti-Money Laundering and Elder ExploitationEpisode 128: The 2023 Senior Investor Protection ConferenceEpisode 105: The Essential Senior Investor Protection Tools: FINRA Rules 2165 and 4512FINRA Securities Helpline for Seniors – 844-57-HELPS (844-574-3577)FINRA Key Topic Page: Senior InvestorsFAQ Regarding FINRA's Rules Relating to Financial Exploitation of SeniorsTrusted Contact Infographic

On May 28th, U.S. markets are moving to a one-day settlement cycle, familiarly known as T+1. This move, which returns the settlement time frame back to a point at which it last stood a century ago, will have wide ranging impacts for firms, investors and regulators. On this episode, we hear from James Barry, Director of Credit Regulation with FINRA's Office of Financial and Operational Risk Policy, Bobby Gomez, a Senior Director with Market Regulation and Transparency Services' Strategic Initiatives team, Mike MacPherson, a Senior Advisor in Member Supervision's Risk Monitoring group, and John Nachmann, Associate General Counsel with the Office of General Counsel's Regulatory Practice, to discuss what all market participants need to be thinking about and testing ahead of the transition.Resources mentioned in this episode:Episode 127: Understanding the Unique Risks of Every FirmDTCC: The Key to T+1 Success BlogReg Notice 23-15: Regulation T and SEA Rule 15c3-3 ExtensionTechnical Notice: T+1 Settlement TestingFINRA Margin RegulationFINRA Investor Insight: Understanding Settlement Cycles2024 Annual Regulatory Oversight Report

These days, it's not a matter of if, but when, when it comes to cybersecurity incidents, which is why it's essential for all firms to ensure they're prepared for the inevitable. On this episode, we're catching up with Bryan Smith, the new senior vice president of FINRA's Complex Investigations and Intelligence (CII) team and Brita Bayatmakou, vice president of the Cyber and Analytics Unit within CII, for an update on CII, the cyber threat landscape and what firms should be thinking about and doing in response to the latest trends.Resources mentioned in this episode:FINRA's FBI Cyber Threat Briefings (Next Briefing: April 22)Episode 112: Introducing FINRA's Complex Investigations and Intelligence TeamCISA Alerts and AdvisoriesFBI Internet Crime Complaint Center: Industry AlertsReg Notice 21-29: Obligations Related to Outsourcing to Third-Party Vendors

Our guest this week is our colleague, Bryan Armour, who is director of passive investment strategies research, North America, for Morningstar Research Services. Bryan is also editor of the ETFInvestor newsletter. Before joining Morningstar in 2020, Bryan spent seven years working for Finra, the Financial Industry Regulatory Authority, conducting trade surveillance and investigations specializing in exchange-traded funds. Prior to Finra, he worked for a proprietary trading firm as an options trader at the Chicago Mercantile Exchange. Bryan holds a BA in Economics from the University of Illinois and the Chartered Financial Analyst designation.BackgroundBioPassive Investing and ETFs“Index Funds Have Officially Won,” by John Rekenthaler, Morningstar.com, Feb. 13, 2024.“Active Funds Fell Short of Passive Peers in 2023,” by Bryan Armour, Morningstar.com, March 12, 2024.“It's Official: Passive Funds Overtake Active Funds,” by Adam Sabban, Morningstar.com, Jan. 17, 2024.“ETFs vs. Mutual Funds: The Benefits That Really Matter,” by Bryan Armour, Morningstar.com, Feb. 6, 2024.“2023 Model Portfolio Landscape,” Morningstar.com.“Markets Are ‘Fundamentally Broken' Due to Passive Investing, Says David Einhorn,” by William Watts, marketwatch.com, Feb. 9, 2024.“How Fund Fees Are the Best Predictor of Returns,” by Russ Kinnel, Morningstar.com, Jan. 12, 2026.“Cage Match: Traditional Index Funds vs. ETFs,” by Christine Benz and Margaret Giles, Morningstar.com, Oct. 20, 2023.“Global Fund Flows: 2023 in Review,” Morningstar.com, Feb. 6, 2024.“A Closer Look at Vanguard's Newest Core Bond ETFs,” by Dan Sotiroff, Morningstar.com, Feb. 12, 2024.“3 New ETFs That Stand Out From the Pack,” by Ryan Jackson, Morningstar.com, Aug. 30, 2023.“Converting Mutual Funds to ETFs: What to Make of the Trend,” by Daniel Sotiroff, Morningstar.com, April 11, 2023.“How to Choose a Great Dividend ETF,” by Dan Sotiroff, Morningstar.com, May 17, 2023.“The Best and Worst New ETFs of 2023,” by Bryan Armour, Morningstar.com, Dec. 19, 2023.Bitcoin and Covered-Call ETFs“Spot Bitcoin ETFs Are Here. Should You Invest?” by Bryan Armour, Morningstar.com, Jan. 11, 2024.“Grayscale's Victory Over the SEC Doesn't Mean a Spot Bitcoin ETF—for Now,” by Bryan Armour, Morningstar.com, Aug. 30, 2023.“Should You Buy a Covered-Call ETF?” Video interview with Bryan Armour and Ruth Saldanha, Morningstar.com, June 14, 2023.Securities MentionediShares ESG Aware ETF ESGUiShares MSCI USA Quality Factor ETF QUALARK Innovation ETF ARKKGrayscale Bitcoin Trust (BTC) GBTCJPMorgan Equity Premium Income ETF JEPIGlobal X Nasdaq 100 Covered Call ETF QYLDVanguard's High Dividend Yield ETF VYMBlackRock Flexible Income ETF BINCSchwab High Yield Bond ETF SCYBT. Rowe Price Capital Appreciation Equity ETF TCAF2x Bitcoin Strategy ETF BITXYieldMax AI Option Income Strategy ETF AIYYOther“The ETF Rule: What It Is and Why It Matters,” by Irene Huhulea, Investopedia.com, Jan. 25, 2024.

U.S. financial markets today are not what they were ten years ago, five years ago, or even just a couple of years ago. Over the years, FINRA's Market Regulation and Transparency Services (MRTS) team successfully grew and evolved to meet the changing demands of the markets they oversaw. But recently, the group took time to ask, how would we build this team if we were starting from scratch? And the answer to that question involved redesigning the group structure around specific functions, rather than around specific rules or products. On this episode, we hear from Feral Talib, Executive Vice President of Surveillance and Market Intelligence, Jackie Perrell, a Senior Vice President and Chief of Staff for MRTS, and Steve Price, Senior Vice President of Market Investigations to learn how the MRTS team has realigned itself, allowing it to be more nimble in addressing and anticipating risks, to better leverage its data and more.Resources mentioned in this episode:2024 FINRA Annual Regulatory Oversight ReportFeral Talib Named Executive Vice President and Head of Surveillance & Market IntelligenceEpisode 60: Greg Ruppert and the National Cause and Financial Crimes Detection Programs

NCLA has petitioned the U.S. Sixth Circuit Court of Appeals for a writ of mandamus to force the SEC to stop delaying its ruling on our client Eric S. Smith's appeal of an unlawful Financial Industry Regulatory Authority disciplinary decision. FINRA banned Mr. Smith from the securities brokerage industry for life and heavily fined him based on faulty accusations and despite lacking any legal right to punish him in the first place. The SEC has refused to rule on Mr. Smith's subsequent appeal for over three years, depriving him of his livelihood, severely damaging his reputation and business prospects, and violating his statutory and constitutional rights. Vec and NCLA Senior Litigation Counsel Russ Ryan discuss Mr. Smith's case.See omnystudio.com/listener for privacy information.

Helen Bloch is the founder of the Law Offices of Helen Bloch, P.C., and it is a certified female owned business. She has over 20 years of legal experience. After graduating from law school, Helen worked as a prosecutor and defense attorney for the City of Chicago. She then worked as an Associate Attorney with Bellows and Bellows, P.C., before founding her firm. Helen works with a diverse range of clients, from fortune 500 executives to employees, and including large corporations to small family owned businesses. She has practiced in state and federal courts, and in arbitration forums, including the Financial Industry Regulatory Authority. She often works with senior executives to negotiate their employment and severance agreements, and negotiating non competes and non solicits. Helen also has extensive worker's compensation practice. She routinely lectures on legal and business topics, including gender roles in the law. In addition to her legal work, Helen is heavily involved in her community. She is the past President of the Decalogue Society of Lawyers, which awarded her the Presidential Citation in 2015 and the Intra Society Award of Merit in 2001. And she is a member of several other associations. She is also a member of the Lawyers Division of the Jewish Federation of Metropolitan Chicago, a life member of Hadassah, and a member of AIPAC. Helen received her JD from Chicago-Kent College of Law, IIT, and received her BA from Yeshiva University, where she graduated Magna Cum Laude. Learn More: https://www.blochpc.com

Generative Artificial Intelligence (AI) and large language models (LLM) are taking the world by storm, presenting numerous opportunities to create business efficiencies. While the new technologies offer many potential benefits to firms, regulators and investors, they also introduce unique risks. On this episode, we hear from Brad Ahrens, senior vice president of Advanced Analytics, Andrew McElduff, vice president with Member Supervision's Risk Monitoring team and Haime Workie, vice president and head of FINRA's Office of Financial Innovation, who are closely looking at these technologies and following developments in this space to learn how FINRA is looking at and thinking about generative AI when it comes to its own business and what it's looking at and seeing when it comes to firm use of these tools.Resources mentioned in this episode:Artificial Intelligence (AI) in the Securities IndustryArtificial Intelligence (AI) and Investment FraudReg Notice 21-19: Obligations Related to Outsourcing to Third-Party VendorsRule 3110: Supervision2024 FINRA Annual Regulatory Oversight Report2023 Executive Order on Artificial Intelligence for CongressNIST: Artificial Intelligence

The FINRA Investor Education Foundation has released a new report, Investors of Color in the United States, examining the behavior and attitudes of investors of color based on data from the FINRA Foundation's National Financial Capability Study coupled with a series of focus groups conducted with young Black/African American, Hispanic/Latino and Asian American/Pacific Islander investors. The report shows interesting trends related to the pace at which these investors are entering the market, their views on risk, where they're receiving information and more. On this episode, we hear more from Ritta McLaughlin, Director of Investor Education, Community Outreach, and Principal Research Analyst Olivia Valdes to learn more.Resources mentioned in this episode:Investors of Color in the United States (2024) Gen Z and Investing: Social Media, Crypto, FOMO, and Family (2023)Investors in the United States: The Changing Landscape (2022)New Accounts and the People Who Opened Them (2021)FINRA Investor Education FoundationEpisode 134: Gen Z Investors

Alpine Securities Corporation v. Financial Industry Regulatory Authority, Inc.

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 ReportFINRA Enforcement HomepageFINRA Names Bill St. Louis as New Head of EnforcementFINRA Fines BofA Securities $24 Million for Treasuries SpoofingFINRA Expels Monmouth Capital ManagementQualification Exams

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 DepartmentCrypto Asset Communications Targeted Exam LetterCrypto Asset Key TopicsFINRA Blog: An Inside Look into FINRA's Crypto Asset WorkEpisode 136: An Introduction to FINRA's Crypto Asset Work and the Crypto HubEpisode 137: The Crucial Role of FINRA's CAI TeamEpisode 138: FINRA's Blockchain LabRule 2210: Communications with the Public

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 ReportReg Notice 23-20: Guidance and Resources Related to Regulation Best InterestReg Notice 23-11: Concept Proposal for a Liquidity Risk Management RuleReg Notice 21-35: Proposed Order Routing Disclosure RequirementsSEC FAQ on Form CRSCAT NMS Plan WebsiteEpisode 136: An Introduction to FINRA's Crypto Asset Work and the Crypto HubEpisode 137: The Crucial Role of FINRA's CAI TeamEpisode 138: FINRA's Blockchain LabEpisode 129: A New Twist on New Account Fraud

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 22-23Rule 4370: Business Continuity PlanningRule 2040: Payments to Unregistered PersonsContinuing Membership Application ResourcesFINRA Examination and Risk Monitoring Programs

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 WebinarsFINRA Small Firm Conference CallsOffice of Hearing OfficersNational Adjudicatory CouncilSmall Firm Advisory CommitteeFINRA Board of GovernorsConferences & EventsMember Firm Hub

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 ToolsFINRA Foundation HomepageConsumer Insights: What really spooks Americans? Money.

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 AnnouncementAARP FoundationAARP Fraud Watch NetworkStanford Financial Fraud Research CenterFINRA Investor Education Foundation

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 FunctionFINRA Information Notice 4/19/22 (FINRA Membership Application Program Transformation)Broker-Dealer RegistrationFINRA Standards for AdmissionForm NMAContinuing Membership Application ResourcesFINRA Member Firm HubFINRA Firm Grouping ConferenceEmail: MAP Group

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 HubEpisode 137: The Crucial Role of FINRA's CAI TeamInvestor Insights: What Is a Blockchain, and Why Should I Care?FINRA Blog: An Inside Look into FINRA's Crypto Asset Work

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 CybersecurityEpisode 72: Overlapping Risks, Part 2: Anti-Money Laundering and Elder ExploitationEpisode 117: Membership Application ProgramEpisode 136: An Introduction to FINRA's Crypto Asset Work and the Crypto HubRule 3270: Outside Business Activities of Registered PersonsRule 3280: Private Securities Transactions of an Associated PersonFINRA Blog: An Inside Look into FINRA's Crypto Asset Work

In 2022, FINRA developed an enterprise-wide strategy to ensure it is prepared for an evolving crypto asset regulatory landscape and created the Crypto Hub, the Blockchain Lab and the Crypto Asset Investigations Team. On this episode, the first in a three-part series, we sit down with Omer Meisel, Senior Vice President of the Complex Investigations and Intelligence Group, Jason Foye, Senior Director and Head of FINRA's Crypto Hub, and Reema Abdelhamid, a Director with FINRA Enforcement to learn more about the strategy and the role of the Hub and FINRA's work to advance its mission of investor protection and market integrity.Resources mentioned in this episode:FINRA Blog: An Inside Look into FINRA's Crypto Asset WorkSEC's SPBD December 2020 StatementSEC's September 25, 2020 No-Action Letter, “ATS Role in the Settlement of Digital Asset Security Trades”Crypto Asset Communications Exam Letter – November 2022FINRA and NFA Joint Press ReleaseReg Notice 20-23: Activities Related to Digital AssetsReg Notice 21-25: Continued Engagement in Activities Related to Digital AssetsEpisode 112: FINRA's Complex Investigations and Intelligence Team & Cyber and Analytics UnitEpisode 113: Regulatory Operations: Stronger Regulation Through Integrated OversightEpisode 117: Membership Application ProgramEpisode 134: Gen Z Investor AttitudesFINRA Foundation Report: Gen Z and InvestingInvestor Insights: What Is a Blockchain, and Why Should I Care?

An efficient capital raising process fosters business expansion, job creation and economic growth. And FINRA's members play an important role in this vital piece of our capital markets. Currently, FINRA's soliciting comments on the impact FINRA's Rules have on the capital formation process, as it looks for ways to increase efficiency and reduce unnecessary burdens. On this episode, we'll dig more into this process and FINRA's recent Request for Comment with Joe Price, Senior Vice President of Corporate Financing and Advertising Regulation, and discuss the recent Regulatory Notice 23-09 on FINRA's Rules impacting capital formation.Resources mentioned in this episode:Reg Notice 23-09: Capital Formation Request for CommentReg Notice 17-14: Request for Comment on FINRA Rules Impacting Capital FormationFINRA RulesSEC EDGAR DatabaseFrequently Asked Questions About Private PlacementsFINRA Board of Governors

Gen Z is now in the market and they're beginning to invest younger than any generation before them. A new study by the FINRA Foundation and the CFA Institute has taken a deep dive into the attitudes and behaviors of this latest generation of investors, the oldest of which were just 25 at the time of the study.On this episode, Andres Vinelli, Chief Economist at the CFA Institute, and Gerri Walsh, President of the FINRA Foundation and Senior Vice President of Investor Education at FINRA, join us to talk about the role of crypto as an onramp, how Gen Z is using, but not necessarily trusting, social media and much more.Resources mentioned in this episode:FINRA Foundation WebsiteCFA Institute WebsiteGen Z and Investing: Social Media, Crypto, FOMO, and Family Report (May 2023)New Investors 2022: Entering the Market in Novel and Traditional Ways (April 2023)National Financial Capability Study Investor Survey (December 2022)

In honor of Elder Abuse Awareness Month, we're taking a look at FINRA's important senior investor protection efforts, including a look at FINRA Rules 2165 and 4512, the first uniform National Senior Investor Protection Standards. On this episode, we hear from Associate General Counsel Alicia Goldin and Vice President and Associate General Counsel Jim Wrona where those rules stand today, explore some of the real-world scenarios in their application and provide tips for some of the tricky conversations that financial professionals might face in connection to their application. Resources mentioned in this episode:Rule 2165: Financial Exploitation of Specified AdultsRule 4512: Customer Account InformationEpisode 105: Essential Senior Investor Protection ToolsReg Notice 22-31: Practices for Obtaining Trusted Contacts“Investors in the U.S.: The Changing Landscape,” FINRA Foundation (December 2022)Trusted Contact Resource PageTrusted Contact Infographic2023 Report on FINRA's Examination and Risk Monitoring Program2020 Ontario Securities Commission Protecting Aging Investors ReportBlame and Shame in the Context of Financial FraudIACP Successful Trauma-Informed Victim InterviewingSenior Safe Act Webinar: Identifying and Reporting Suspected Exploitation

FINRA's Examination team carries out a core function of FINRA's business by examining every member firm at least every four years and as often as annually, depending on the risk profile of each individual firm. These exams ensure firms remain in compliance with FINRA rules and federal securities laws and regulations and are at the heart of FINRA's mission of investor protection and market integrity. On this episode, Michael Solomon, Senior Vice President of Examinations, Nicole McCafferty, Vice President of the Retail Exam Firm Group, and Joe Sheirer, Vice President of the Office of Exams, join us for a deep dive into how the program works and what firms can expect during routine firm exams.Resources mentioned in this episode:Episode 127: FINRA's Risk Monitoring ProgramEpisode 60: National Cause and Financial Crimes Detection ProgramsReg Notice 23-08: Selling Private Placements2023 Report on FINRA's Examination and Risk Monitoring Program