Upcoming Board Meeting

From:

Robert W. Cook, FINRA President and CEO

To:

FINRA Member Firms

Date:

Tuesday, September 25, 2018

This week, the FINRA Board of Governors will meet in New York. Joining the Board for a brief discussion will be SEC Chairman Jay Clayton, who last visited with the Board in December 2017. We look forward to continuing our conversations with him on the leading issues facing the industry. In addition, Gerri Walsh, Senior Vice President of Investor Education and President of the FINRA Investor Education Foundation, will update the Board on FINRA’s investor education efforts.

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:
    • proposed amendments to expand the time for non-parties in arbitrations to respond to subpoenas and orders of appearance of witnesses or productions of documents;
    • expansion of TRACE to include foreign sovereign debt securities;
    • potential amendments to margin requirements for covered agency transactions; and
    • proposed amendments to FINRA’s margin rule to clarify the treatment of “when issued” and other extended settlement transactions.
       
  • The Regulatory Operations Oversight Committee will receive several updates related to FINRA’s examination program, including a progress report on the exam and risk monitoring program and a presentation on the process for developing two important resources for firms: the Examination Findings Report due out this fall, and the 2019 Regulatory and Examination Priorities Letter scheduled for release in January.
     
  • The Nominating and Governance Committee will review proposed appointments of Governors to the various Board committees, which assist the Board in carrying out its oversight responsibilities.
     
  • The Finance, Operations and Technology Committee will review FINRA’s real estate position in the New York City area and FINRA’s 2019 revenue projections in preparation for the review of FINRA’s annual budget at the December Board meeting.
     
  • The Audit Committee will receive an overview of the use of data analytics in FINRA’s Internal Audit process.

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