The Financial Industry Regulatory Authority has removed alternative mutual funds from the spotlight for 2016.

In last year’s regulatory and examination letter, Finra presented a laundry list of concerns about the investment vehicles that had soared more than six-fold to $300 billion in assets under management in six years.

Finra raised an alarm that firms and customers don’t know how the funds will perform and react to changing market conditions.

And in 2015, the regulator said brokerages must ensure alternative mutual fund communications are accurate and fairly describe how the products work.

However, in this year’s priorities letter, Finra’s worries about them are shorter and muted. The only mention of alternative mutual funds is as part of a group of non-standard investments Finra said warrant effective controls over suitability recommendations.

For 2016, Finra Chairman and CEO Richard Ketchum has made improving the culture of compliance at brokerages a theme for his last year on the job.

“Nearly a decade after the financial crisis, some firms continue to experience systemic breakdowns manifested through significant violations,” Ketchum charged.

Stressing the need for a strict tone at the top, the Finra chief said firm senior leaders who promote a strong ethical culture impose consequences on violators.

He called strong compliance essential for restoring confidence in the markets.

Generally, this year’s priorities mirror last year’s, as usually is the case with regulators in the absence of a cataclysmic event. Think the meltdown.

But in addition to downplaying alternative mutual funds, there are a couple of other minor changes.

For the first time, Finra warns of a cybersecurity risk in high-frequency trading. The regulator cautioned controls are needed to prevent unauthorized traders from jeopardizing the market.

Also, the regulatory and examinations priorities letter mentions 529 college savings plans shares. They weren’t in the memorandum last year.

Finra said while investors have been making large C share purchases, A class shares may be more economical for those who are seeking 529 offerings as long-term holdings.