He pointed out that FINRA’s reviews and focuses cover a number of factors, including how a firm communicates and reinforces values directly, implicitly and through its reward system. FINRA also is interested in how a firm measures compliance with its cultural values; what metrics, if any, it uses; and how it monitors for implementation and consistent application of those values throughout its organization.
Chairman Richard G. Ketchum went on to say that “FINRA will assess whether control functions are valued within the organization; whether the organization proactively seeks to identify risk and compliance events.”
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Read the full text of Chairman Richard G. Ketchum’s address.