Small Firms Information
FINRA has created this page to provide information for the small firm community—those firms with 150 or fewer registered representatives. This page contains current and past communications, links of interest to small firms, and other information.
June 21, 2017
2017 FINRA Small Firm Conference - Registration Now Open
FINRA's Small Firm Conference focuses on small firms' practices and tips for complying with FINRA rules. Throughout the event, attendees have the opportunity to discuss small firm issues with FINRA senior staff.
The conference is scheduled for November 8- 9 2017 in Santa Monica, CA. Register today.
New Compliance Resources for Firms
Two new compliance resources, the FINRA Compliance Vendor Directory (CVD) and the FINRA Compliance Calendar, were recently added to the home page of Firm Gateway.
The CVD was developed to provide firms with more options when searching for vendors that offer compliance-related products and services. Current vendor categories include Compliance Consulting, Cybersecurity, Data Management, Email & Social Media Archive, Exam Prep & Firm CE, Insurance Brokers, Monitoring, PCAOB-Registered Accountants, and Registration services.
The FINRA Compliance Calendar provides firms with a calendar view of upcoming required filings, a schedule of live educational opportunities and events, and significant deadlines.
For more information about any of FINRA’s compliance tools and resources, email FINRA Member Relations and Education.
April 25, 2017
A Few Minutes With FINRA
A Few Minutes With FINRA are brief video segments in which senior FINRA staff discuss timely regulatory topics and respond to comments from firms on specific areas of concern. Watch the latest installments on:
- Risk Monitoring Report Cards
- Insider Trading “Red Flags” and Filing a Tip With FINRA
- Special Notice: Engagement Initiative
January 6, 2017
Capital Acquisition Brokers
On January 3, 2017, FINRA began accepting applications for firms wishing to register as Capital Acquisition Brokers. FINRA encourages qualifying member firms and new firms to consider converting to CAB status. Switching to CAB status will help ensure that qualifying firms will be governed by a regulatory structure that is better suited to the limited nature of their business. Please visit the Capital Acquisition Brokers page for more information on the rule book and how to register.
January 4, 2017
2017 Regulatory and Examination Priorities Letter
Each year FINRA publishes its regulatory and exam priorities to highlight significant risks and issues that could adversely affect investors and market integrity in the coming year.
November 16, 2016
Relief Provided to Broker-Dealers on Accounting for Operating Leases
The Division of Trading and Markets of the Securities Exchange Commission (SEC) issued a no-action letter on November 8, 2016, to provide limited relief from the negative impact on net capital, which would have resulted from a recently adopted Financial Accounting Standards Board’s (FASB) standard. The standard, and the relief provided, are discussed in the referenced no-action letter.
November 16, 2016
FINRA Rule 2273 Resources
Representatives who leave their firms often contact former customers and emphasize the benefits the former customers would experience by transferring their assets to the firm that recruited the registered representative (recruiting firm) and maintaining their relationship with the representative. FINRA Rule 2273 requires the recruiting firm to deliver to those customers a FINRA-created Educational Communication that highlights key considerations in transferring assets to the recruiting firm, and the direct and indirect impacts of such a transfer on those assets. The rule went into effect on November 11, 2016. Please visit the Broker-Dealer Recruitment Disclosures: Complying with FINRA Rule 2273 page for more information and FAQ.
May 23, 2016
Small Firm Cybersecurity Checklist
FINRA has created a Cybersecurity Checklist to assist small firms in establishing a cybersecurity program to identity and assess cybersecurity threats, protect assets from cyber intrusions, detect when their systems and assets have been compromised, plan for the response when a compromise occurs and implement a plan to recover lost, stolen or unavailable assets. This checklist is primarily derived from the National Institute of Standards and Technology (NIST) Cybersecurity Framework and FINRA's Report on Cybersecurity Practices. Use of this checklist does not create a "safe harbor" with respect to FINRA rules, federal or state securities laws, or other applicable federal or state regulatory requirements.
Quarterly Disciplinary Review
View the latest issue of the Quarterly Disciplinary Review, a summary sampling of recent disciplinary actions involving misconduct by registered representatives that call attention to, and remind registered representatives and firms of, specific conduct that violates FINRA rules and may result in disciplinary action.
FINRA Rule Filing Status Report
The FINRA Rule Filing Status Report provides firms with a comprehensive list of FINRA rule filings currently pending with the SEC, as well as FINRA rule filings approved by the SEC, filed with the SEC for immediate effectiveness, or withdrawn within the last six months.