Modernizing Oversight
We are reviewing, updating and enhancing FINRA rules, guidance and processes to modernize requirements, facilitate innovation and eliminate unnecessary burdens.
An Update on FINRA Forward Rule Modernization
Robert Colby, Chief Legal Officer, FINRA
Finalizing our new Outside Activities rule feels like summiting Old Rag on a clear day. Like most strenuous climbs, the task demanded problem-solving and technical skill as we sought to replace two outdated rules with a single streamlined one.
Key Areas of Modernization
Rule Modernization
We are systematically reviewing our rules and guidance to ensure they remain relevant and effective. This includes updating or eliminating outdated requirements while preserving investor protections and streamlining compliance obligations where appropriate.
Regulatory Coordination and Harmonization
We are working with other regulators to reduce duplicative requirements by aligning regulatory approaches across different market segments and creating more consistent standards where appropriate.
Engagement with Industry and Other Stakeholders
We are soliciting feedback through comment letters, roundtables and committee meetings, and maintaining regular dialogue with member firms about regulatory challenges.
FINRA Forward in Action