Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Running Your Business

FINRA Seeks Feedback on Lessons Learned From COVID

Your article was successfully shared with the contacts you provided.
Woman typing on a laptop with FINRA logo on the screen. (Photo: Shutterstock)

The Financial Industry Regulatory Authority is seeking feedback from broker-dealers on lessons learned during the pandemic — namely changes to BDs’ operations and business models, and the effectiveness of business continuity planning.

BDs, FINRA said in Regulatory Notice 20-42, “have made rapid and unprecedented changes to their business operations in order to prioritize the health and safety of firm personnel and investors, while maintaining the public’s access to capital markets.”

Changes include widespread use of remote offices and alternative work arrangements and new and expanded methods of engaging with personnel and investors.

FINRA is seeking feedback on such areas as changes to business operations due to remote work, a retrospective review of its rules as well as business continuity planning.

FINRA seeks to identify rules or rule sets, or their attendant administrative processes, that would benefit from an assessment based on stakeholders’ experiences during the pandemic.

As to business continuity planning, FINRA wants feedback on whether there’s a need for any amendments to Rule 4370, Business Continuity Plans and Emergency Contact Information, to address issues raised during the pandemic.

Rule 4370 requires broker-dealers to create, maintain and review at least annually and update upon any material change, a written business continuity plan identifying procedures relating to an emergency or significant business disruption.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.