FINRA’s report includes new guidance on retention and supervision of off-channel communications. The Securities and Exchange Commission and the Commodity Futures Trading Commission have levied over $2.6 billion in fines across more than 40 firms for lapses in communications capture and supervision, in addition to FINRA’s own fines in this area. The topic’s inclusion indicates regulators’ continued, tenacious focus on the issue.
Given this regulatory environment, compliance officers should remain aware of the report’s baseline electronic communications (e-communications) rules and emerging expectations to ensure comprehensive program design and implementation.
