FINRA: How to Ace the Exam

 A complaint that is often heard about securities regulation is that it is a “check-the-box” exercise. In many instances, however, checking that box is a highly effective control.

I do not agree with the check-the-box mentality. And I believe there are too many irrelevant boxes to check.  Here are a couple of things to consider instead:  How can you use the required boxes to enhance your compliance program?  And can checking these boxes serve as a good reminder of the underpinnings of a successful compliance program?  Keep in mind that the FINRA exam is an open-book exam.  FINRA has published the exam module as well as the answers, so it couldn’t be any easier if you do your homework…

Elin is the CEO of Elinphant a financial compliance services firm. Elin ensures compliance officers who serve clients are skilled and knowledgeable in relation to the clients business and needs. Elin is known for looking at compliance challenges as well as marketing and sales in an innovative and direct manner.