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Beneath Rule 3110, FINRA requires its member corporations to examine:
- Places of work of supervisory jurisdiction and non-OSJ branches that supervise non-branch areas a minimum of yearly
- Non-supervising department places of work a minimum of each three years
- Non-branch places of work periodically.
The Securities and Change Fee has till the tip of December 2023 to approve or disapprove FINRA’s Distant Inspections Pilot Program Proposal.
Given the uncertainty as as to if the SEC will approve or disapprove the proposal by the tip of 2023, FINRA stated it “believes that the proposed extension is critical to supply corporations the time to arrange for both the resumption of on-site inspections if the Fee disapproves the Distant Inspections Pilot Program Proposal, or alternatively, the implementation of the proposed distant inspections pilot program if the Fee approves the Distant Inspections Pilot Program Proposal.”
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