FINRA proposed extending through calendar year 2022 temporary relief allowing for remote inspections. The proposed amendment would expand the scope of temporary Supplementary Material .17 ("Temporary Relief to Allow Remote Inspections for Calendar Year 2020 and Calendar Year 2021") under FINRA Rule 3110 ("Supervision"). FINRA stated that the extension would cover on-site inspection obligations through June 30, 2022, and is necessary as a result of continuing COVID-19 related operational challenges.
As previously covered, the SEC approved the temporary rule amendment that allows member firms to complete their inspection obligations remotely through calendar year 2021.
Comments on the proposed extension must be submitted within 21 days of its publication in the Federal Register.
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