On January 12, the Financial Industry Regulatory Authority (FINRA) filed with the Securities and Exchange Commission a proposed rule change outlining the content and selection specifications for FINRA’s new general knowledge examination, the Securities Industry Essentials Examination (SIE) (For additional information related to the SIE, please see the July 14, 2017 edition of the Corporate & Financial Weekly Digest.)
Continue Reading FINRA Proposes Rule Change Related to the Content of the Securities Industry Essentials Examination

On January 12, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released its 2017 examination priorities, which seek to address: (1) the protection of retail investors; (2) risks related to elderly and retiring investors; and (3) market-wide risks.
Continue Reading 2017 Examination Priorities Announced by the SEC

On February 19, federal banking agencies increased the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle. The changes are intended to reduce regulatory compliance costs for smaller institutions, while still maintaining safety and soundness protections. Under the interim final rules, qualifying well-capitalized and well-managed banks and savings associations with less than $1 billion in total assets are now be eligible for an 18-month examination cycle. Previously, firms with less than $500 million in total assets could be eligible for the extended examination cycle. The examination cycle changes may also apply to qualifying well-capitalized and well-managed US branches and agencies of foreign banks with less than $1 billion in total assets.
Continue Reading Federal Banking Agencies Expand Number of Banks Qualifying for 18-Month Examination Cycle