Each month, we publish the Securities Operations Regulatory Update (SORU)
as part of our Regulatory Compliance Service.
The SORU is the premier monthly guide to pending regulatory changes relevant to securities operations. Within it you will find updates on key regulatory issues important to securities operations professionals, helpful synopses to better understand reasoning and implications behind new legislation and regulatory changes, and access to critical information regarding impacts to your compliance programs and regulatory requirements.
This month’s SORU provides readers with updates on regulatory activity, including enforcement actions. As demonstrated by the enforcement actions this month, heightened awareness should be given to reporting and records maintenance obligations. Specifically, the noted FINRA actions focus on supervisory failures relating to TRACE, OATS and other reporting obligations, as well as the obligation to maintain electronic records in a WORM compliance environment. The supervisory failures include failures to monitor systems that perform reporting and records maintenance functions to ensure accuracy and compliance with regulatory obligations.