The Financial Industry Regulatory Authority (FINRA) announced an examination sweep of retail communications by broker-dealers and their affiliates related to cryptocurrency asset products and services.
The announcement, made Monday, requests broker-dealers provide all retail communications on crypto assets made to 25 or more investors by them and their affiliates from July 1 to Sept. 30. Retail communications cover any electronic interaction and include written communications, video, social media posts, mobile applications, and websites. Communications covered by the sweep would be related to a service involving the holding or transaction of crypto assets, FINRA said.
