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November 16, 2021 at 03:24 PM
What You Need to Know
- The right place is probably in the middle, where FINRA takes a more risk-based approach to on-site exams, Cook said.
- FINRA has done about 85,000 online exams.
- All of FINRA's 69 arbitration locations are now open, but there’s still demand to do hearings by Zoom.
The Financial Industry Regulatory Authority is reassessing its exam and arbitration forum formats, according to CEO Robert Cook.
“We’ve retained the flexibility to do on-site [exams] when we need to,” Cook said Tuesday at the Georgetown Financial Markets Quality Conference. “But going forward, we’re probably going to revisit how we do this. … The right place is probably in the middle, where we take a more risk-based approach — deciding where we go on-site.”
As for FINRA’s testing centers, the broker-dealer self-regulator has set up an online testing capability, Cook relayed, and has “done about 85,000 online exams; now the testing centers are open.”
