The broker industry’s chief regulator said Tuesday that its examiners will spend more time on “open-ended thematic reviews” that can identify where controls on financial risks break down.
The Financial Industry Regulatory Authority will use sophisticated risk analysis and examination technology to build models of how different brokerages operate their businesses and collect supplementary income data as well as detailed purchase and sales data, customer data and data about the broker, in the quest to reduce risks, chairman Richard G. Ketchum said.
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