Compliance Newsflash – February 15, 2017

February 15, 2017

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FINRA Promotes Marcia E. Asquith to EVP, Board and External Relations; and Jennifer Piorko Mitchell to VP, Corporate Governance
On February 9, 2017, FINRA announced that its Board of Governors has approved the promotion of Marcia E. Asquith to Executive Vice President, Board and External Relations. Jennifer Piorko Mitchell was promoted to Vice President, Corporate Governance. In a newly created role, Ms. Asquith will continue to oversee the Office of the Corporate Secretary, as well as the offices of Investor Education, Member Relations and Education, Government Affairs and Corporate Communications. Ms. Piorko Mitchell has worked in the Corporate Secretary’s office since 2007, initially serving as Assistant Corporate Secretary. In 2014, she was promoted to Deputy Corporate Secretary and selected to serve as the Secretary of the FINRA Investor Education Foundation.
To read the full article, click here.

Remarks at SIFMA Anti-Money Laundering and Financial Crimes Conference
On February 9, Ms. Susan Axelrod spoke at the SIFMA Anti-Money Laundering and Financial Crimes Conference. She remarked that FINRA has identified money laundering as one of the nine risks that inform our examination and surveillance programs. On January 18, FINRA has published a video on defining the nine risks and what staff looks for when assessing a firm’s risk. FINRA’s surveillance team is actively assessing each firm’s ability to mitigate money-laundering risk through quantitative and qualitative measures. FINRA considers these assessments when determining the strategy for a firm’s examination, and if a review of a firm’s AML efforts is warranted, it has developed specific examination content to guide the examiners in their reviews.
For more information, click here.