A broker-dealer settled FINRA charges for failing to establish, document, and maintain a system of risk management controls and supervisory procedures to manage the financial risks of its direct market access business activity.
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In a 2017 Regulatory and Examination Priorities Letter, FINRA identified compliance, supervision and risk management as primary areas for review.
A firm settled FINRA charges for failing to (i) establish a reasonable supervisory system over potentially manipulative activity and customer credit limits, (ii) document review of the firm's market access risk management controls and (iii) accurately transmit information to the Order Audit Trail System.