FTX meltdown triggers FINRA into probing crypto comms

FTX meltdown triggers FINRA into probing crypto comms


The Financial Industry Regulatory Authority (FINRA), the American self-regulatory organization, has launched an examination into the firm’s retail communications concerning crypto products and services offered by them.

The regulatory body, in an official notice, announced that it is launching a targeted exam on firms on how they handled retail communications between July 1 and the end of September. The decision to examine crypto-related retail communications comes in the wake of the collapse of the FTX crypto exchange.

Any written (including electronic) message that is issued or made available to more than 25 retail investors within any 30-day period is referred to as a “retail communication” according to FINRA. It also applies to video, social media, mobile apps and websites in addition to writing communications.

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In its exam notice, FINRA asked

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