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FINRA proposed a rule change to extend from August 31, 2021, to December 31, 2021, the expiration date for temporary amendments that (i) provide relief to FINRA staff from certain enforcement and procedural requirements and (ii) allow virtual hearings.

Steven Lofchie Commentary by Steven Lofchie

FINRA reminded firms of their obligation to maintain a sufficient supervisory system for activities outsourced to third-party vendors. FINRA highlighted exam findings and examples of disciplinary actions arising from supervisory lapses.