FINRA proposed extending temporary rules allowing remote office inspections through calendar year 2022.
FINRA filed with the SEC a proposed rule change to extend temporary Supplementary Material .17 under FINRA Rule 3110 ("Supervision"). As previously covered, the SEC approved the adoption of Supplementary Material .17 in 2020 to permit remote inspections to satisfy the obligations set out in Rule 3110(c)(1)(A), (B) and (C) that require each member to conduct an annual office inspection. Since then, the permission has been extended to the first half of calendar year 2022. This proposed additional six-month extension would allow remote inspections through 2022.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
