The COVID Project
Context, not an orderThis record is guidance or an announcement kept for context. It is not counted among the orders in force.
The record
- Jurisdiction
- United States; Financial Industry Regulatory Authority (self-regulatory organization)
- Level
- Sector regulator
- Authority
- 15 U.S.C. § 78o-3(b)(6)
- Issued
- 2020-05-28 May 28, 2020
- Effective
- 2020-05-28
- End
- n/a (guidance) (read as 2021-09-30)
- In force
- May 28, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Telework mandateOther
- Addressees
- FINRA member broker-dealers
- Functions reached
- OP office premises and supervision (remote)
- WM
- HR
- WF
- Character
- context
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
Firms generally acknowledged the challenges relating to remote supervision, but also reported that they were relatively prepared to remotely supervise their associated persons using existing methods of supervision.... Firms reported that they adjusted their branch inspection programs to accommodate remote work requirements and travel restrictions.... Depending on the duration and severity of the stay-at-home orders and travel restrictions, firms were planning to complete the onsite portions of the inspections in the future.
Enforcement
Guidance; Rule 3110 supervisory obligations otherwise enforceable
Notes
The self-regulator's own record that broker-dealers had transitioned to remote work because of 'stay-at-home orders and travel restrictions' and that on-site inspections could not be completed
Retrieval notePDF retrieved from the Wayback Machine (finra.org blocks automated retrieval); Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).