FINRA Forward Updates & Insights (cont.)

 

Publication
FINRA Makes Revised Communications Pilot Permanent

Following a successful six-month pilot, FINRA will now allow all firms to voluntarily upload a revised retail marketing communication and have it reviewed free of charge. Part of our FINRA Forward initiative to empower member firm compliance, this new program is designed to reduce burdens for firms to seek a “clean letter” from FINRA indicating that their revised communication meets applicable standards. 

Publication
Streamlining Data Requests While Enhancing Oversight

FINRA has unique access to data across markets and our membership. As part of FINRA Forward, we are evolving our procedures and harnessing technology to make better use of this data internally. This FINRA-wide effort has allowed us to reduce the volume and scope of our external data requests to firms, freeing up resources so that both FINRA and our member firms can focus on the most important risks to investors. 

Podcast
How FINRA Is Streamlining Data Requests
On this episode of FINRA Unscripted, discover how data drives securities oversight at every level, from firm examinations to suspicious trading detection. FINRA leaders discuss evolving approaches to data requests, using technology and collaboration to work smarter, reduce regulatory burden, and strengthen investor protection.
Blog Post
A Progress Update on Rule Modernization
Rulemaking is more like Formula 1 than drag racing. F1 drivers must continually adjust their speed on the circuit, slowing down on curves and accelerating on the all-too-rare straightaways. All the while, they look ahead to anticipate obstacles and react to other drivers.
Blog Post
Facilitating E-Delivery While Preserving Investor Choice
As part of FINRA Forward’s rule modernization initiative, FINRA’s Board recently approved updates to FINRA’s requirements for how broker-dealers deliver investor notices, disclosures, and other communications that are mandated by FINRA rules. Once effective, these updates would permit member firms to make e-delivery their default delivery method, while preserving the ability of investors to choose paper delivery.
Blog Post
Report Card Enhancements—A FINRA Forward Update
For more than 25 years, FINRA has offered member firms “report cards” as one type of voluntary compliance support tool. Report cards provide members with secure access to data and analysis that can help them detect potential compliance issues and, in turn, remediate those issues before they become more serious. Member firms generally tell us they view this as a successful component of FINRA’s efforts to help promote…
Podcast
Making Your Voice Heard Through FINRA Member Engagement
Engagement is a two-way street at FINRA. On this episode of FINRA Unscripted, two regional committee members speak with FINRA's Kayte Toczylowski about how FINRA listens to industry feedback and takes action. Discover how member firms can actively participate in shaping regulation, access valuable resources, and build meaningful relationships.
Podcast
Building Cybersecurity Resilience Through FINRA Forward
FINRA Forward is transforming cybersecurity defense through collaborative intelligence sharing and more. On this episode of FINRA Unscripted, discover how tabletop exercises and workshops, the Cyber and Operational Resilience program, and the forthcoming Financial Intelligence Fusion Center can help FINRA member firms prevent, prepare for and respond to evolving cyber threats.
Publication
FINRA’s Cybersecurity and Fraud Prevention Initiatives

The growing size and sophistication of today’s cybersecurity and fraud threats are posing a historic challenge to investors, markets, and member firms. Financial crimes are no longer just one-off events masterminded by individuals. Businesses are facing a whole ecosystem of bad actors who leverage social media and innovations like generative AI to paralyze organizations and steal vast amounts of investor assets. 

Blog Post
Advancing FINRA’s Mission With AI
FINRA’s member firms have long been at the forefront of utilizing innovative technologies to better serve their clients and support vibrant capital markets. Indeed, their capacity to foster and embrace advancements in technology is a key reason why U.S. securities markets are widely considered the envy of the world.
Article
Bringing the Interpretation Handbook Into the Digital Age

For decades, the Interpretation Handbook has served as a key resource helping member firms comply with the SEC’s rules for calculating net capital, protecting customer assets, recordkeeping and financial reporting.

Blog Post
FINRA Forward’s Rule Modernization—An Update
In financial regulation, there is no higher purpose than helping investors participate in our markets with confidence. That participation drives wealth creation and capital formation. And though opinions may differ about the right amount of regulation, everyone acknowledges that effective and efficient rules help build trust for market participants and ultimately benefit FINRA member firms, the markets and the investors they…
News Release
FINRA Announces Launch of Crypto and Blockchain Education Program
FINRA announced today the launch of its new Crypto and Blockchain Education Program, which is designed to provide FINRA member firms and their employees with educational resources focused on crypto assets and blockchain technology.
Podcast
Previewing FINRA’s Crypto and Blockchain Education Program
As member firm activity increases in blockchain and crypto assets, FINRA is launching a Crypto and Blockchain Education Program designed to empower member firm compliance and combat crypto fraud.
Podcast
Robert Cook on FINRA Forward, and More
At FINRA’s annual conference on May 13, 2025, President and CEO Robert Cook discusses the FINRA Forward initiative and other topics of interest to FINRA member firms and other stakeholders, in conversation with Kayte Toczylowski, VP, Member Relations and Education.
Blog Post
Vendors, Intelligence Sharing and FINRA’s Mission
By Greg Ruppert, Executive Vice President, Member Supervision, FINRA As a self-regulatory organization, FINRA is uniquely positioned to engage with member firms to understand their business models and provide them with timely, actionable insights and information. As part of FINRA Forward, FINRA is working to enhance how we support member firm compliance to better protect investors and safeguard markets, including…
Blog Post
New FINRA Initiatives to Support Members, Markets, and the Investors They Serve
By Robert Cook, President and CEO, FINRA. To serve its mission—promoting investor protection, market integrity, and vibrant capital markets—FINRA must continuously improve its regulatory policies and programs to make them more effective and efficient. During my time as CEO, we have worked hard to build a culture of continuous improvement across FINRA—and we have come a long way, including by restructuring departments,…
Request for Comment
Regulatory Notice 25-07
Advances in technology have transformed the workplace for members and their associated persons. These advances have changed how members and their associated persons conduct business and interact with customers, expanded customers’ choices in engaging with members and the securities markets, and created opportunities for different workplace arrangements for members and associated persons. Members also increasingly leverage…
Request for Comment
Regulatory Notice 25-06
A vibrant and efficient capital-raising process fosters business expansion, job creation, innovation and economic growth. FINRA members play a critical role in facilitating capital formation for businesses of all sizes. FINRA supports the capital-raising process through appropriately tailored rules for its members that are designed for the benefit of all market participants.
Request for Comment
Regulatory Notice 25-04

Summary

As a self-regulatory organization, FINRA is committed to continuous improvement that draws on deep engagement with its member firms.

Blog Post
Updating TRACE Reporting Timeframes
By Robert Cook, President and CEO, FINRA. In September 2024, the SEC approved amendments (Amendments) to FINRA’s TRACE reporting rules to reduce the current 15-minute timeframe for reporting transactions in relevant fixed income securities.
Blog Post
Implementing the SEC’s Securities Lending Reporting Requirements
By Robert Cook, President and CEO, FINRA. In October 2023, the SEC adopted Rule 10c-1a, which is intended to enhance transparency in the securities lending market. In effect, the rule requires market participants to report securities lending transactions to FINRA, and requires FINRA to adopt rules establishing a system to facilitate such reporting and to publicly disseminate specified reported loan information. Earlier…
Blog Post
CAT Should Be Modified to Cease Collecting Personal Information on Retail Investors
By Robert Cook, President and CEO, FINRA. The Consolidated Audit Trail, or CAT, is an SEC-mandated reporting system that collects data regarding trading in the U.S. equities and options markets. The SEC first proposed CAT in 2010 when the limitations of pre-CAT reporting facilities were highlighted by the Flash Crash. The final CAT rule was adopted by the SEC in 2012, a more detailed plan for CAT was approved by the SEC in…