Upcoming Board Meeting

From:

Robert W. Cook, FINRA President and CEO

To:

FINRA Member Firms

Date:

Monday, July 16, 2018

This week, the FINRA Board of Governors will meet for the third time in 2018. The meeting will take place in Washington, DC. During the course of the meeting, the Board is planning to sit down with SEC Commissioners Hester Peirce and Robert Jackson, and Counselor to the Secretary of the Treasury Craig Phillips. We look forward to our discussions with them.

Highlighted below are some of the key items the Board committees will consider during the meeting.

  • The Regulatory Policy Committee will review several current rulemaking and policy initiatives, including:
    • a proposal to expand the categories of persons that can act as custodians of the books and records of firms leaving the business;
    • proposed amendments to the Customer Account Information Rule to allow for electronic signatures of associated persons authorized to exercise discretion in a customer’s account;
    • a proposal to enhance and expand the summary firm data that FINRA publishes on its website relating to over-the-counter (OTC) trading volume; and
    • a proposal to provide firms additional time to report to TRACE certain transactions in U.S. Treasury Securities.

In addition, the Regulatory Policy Committee will meet with the Regulatory Operations Oversight Committee to review and discuss the lifecycle of a FINRA disciplinary matter, from examination and investigation to disciplinary proceeding and appeal.

  • The Nominating and Governance Committee will review Board and committee terms that are ending, and will discuss options for filling vacancies. The committee will also review recommendations from the Special Notice Task Force around FINRA’s industry engagement, including our governance activities.
  • The Audit Committee will review the scope of FINRA’s internal control monitoring plan.
  • The Finance, Operations and Technology Committee will discuss the status of the Consolidated Audit Trail, and will review FINRA workforce and resource needs.

More information regarding the Board’s operations, including the membership and responsibilities of its committees, is available on FINRA’s governance page at www.finra.org/governance.

I look forward to sharing an update about these discussions after the meeting.

Sincerely,

Robert W. Cook
President and CEO