Exam Alert: SEC requests that broker-dealers provide FINRA with SAR information

Member firms must make suspicious activity reports (SARs) and supporting documentation available to FINRA, as well as any information that would reveal the existence of an SAR or any decision not to file an SAR. Continue reading

On January 26, 2012, the SEC issued a letter that authorized FINRA to request suspicious activity reports (SARs) and supporting documentation from member firms when FINRA conducts examinations, investigations, or risk assessment for its examination program.  Member firms must make these documents available to FINRA, as well as any information that would reveal the existence of an SAR or any decision not to file an SAR.

Source: FINRA Regulatory Notice 12-08

This alert applies to the Series 79, Series 62, Series 6, Series 26, Series 24, Series 99, Series 7, and Series 82