Navigate the evolving regulatory landscape with a deep dive into FINRA’s 2024 report. Uncover critical updates emphasizing crypto asset risks, cybersecurity threats, and AML compliance. This report, crucial for financial firms, scrutinizes digital asset sales and reinforces the importance of robust cybersecurity measures. News Directory 3 delivers the essential insights you need to understand the latest regulatory actions and strengthen yoru compliance procedures. Discover how FINRA is adapting to the rise of new technologies and reinforcing existing regulations. What compliance enhancements and regulatory updates are in store? Find out.
FINRA Oversight report Emphasizes Crypto,Cybersecurity,and Compliance
Updated May 28,2025
Teh Financial Industry Regulatory Authority (FINRA) has issued its 2024 Annual Regulatory Oversight Report,offering insights for member firms to bolster their compliance procedures. The report synthesizes recent regulatory actions, pinpointing key areas for organizations to consider in their compliance efforts.
A notable update from the 2023 edition is the inclusion of content regarding crypto assets. FINRA provides guidance for firms navigating crypto asset-related risks and those contemplating activities involving digital currencies. The report underscores the importance of cybersecurity and the monitoring of salespeople and financial advisors involved in digital asset promotion.
Cybersecurity remains a critical concern. FINRA noted an increase in the sophistication and frequency of cybersecurity incidents, including imposter websites, insider threats, ransomware attacks, and breaches at major vendors. The report also addresses Anti-Money Laundering (AML),fraud,and sanctions,reminding firms of the necessity of a written AML program to comply with the Bank Secrecy Act.
Regulation Best Interest (Reg BI), Form CRS, and the Consolidated Audit Trail (CAT) are also covered in the report.
What’s next
Financial firms should carefully review FINRA’s 2024 report to strengthen their compliance programs,particularly in the areas of crypto asset risks,cybersecurity,and AML procedures. Staying informed and proactive is essential for navigating the evolving regulatory landscape.
