Report on June Meeting | FINRA.org

Report on June Meeting

June 11, 2026

The FINRA Board of Governors met last week in Washington, and I am pleased to share several updates. 

Rulemaking

The Board approved the following proposals, which will be filed with the SEC: 

  • A proposal to make permanent the Remote Inspections Pilot Program before it expires to preserve the ability of member firms to conduct remote inspections of their offices. The proposal is informed by the data collected during the pilot program and recognizes the evolution of the modern workplace. It incorporates feedback we received from Regulatory Notice 25-07.
     
  • A proposal to modernize supervisory obligations to reflect how the member workplace operates today. The proposed changes, which incorporate feedback we received in response to Regulatory Notice 25-07, would extend the presumptive inspection cycle for non-branch locations, simplify the approach for different types of residences, and modify the supervisory ineligibility requirement for Residential Supervisory Locations.
     
  • A proposal to revise FINRA’s continuing education (CE) programs. The proposal addresses the CE workload for individuals who have multiple registrations, helps member firms to more efficiently develop their training programs, provides timing flexibility for compliance with CE deadlines, and offers a new voluntary pilot for CE delivery to senior leaders. These changes are in response to the feedback we received from Regulatory Notice 25-07.
     
  • A proposal to amend FINRA’s corporate financing rules to modernize the treatment of underwriting compensation, simplify compliance for members with conflicts of interest in public offerings, and expand the filing exemption for certain private placements. The amendments, which incorporate feedback FINRA received in response to Regulatory Notice 25-06, are designed to reduce unnecessary costs and burdens on the capital raising process, while maintaining protections for investors and issuers.

The Board discussed potential changes to enhance the fairness, efficiency, and effectiveness of the arbitration forum in response to the feedback that we received on Regulatory Notice 26-06, as well as potential amendments to FINRA’s research rules. The Board also received an update on the Consolidated Audit Trail (CAT), including the SEC’s concept release seeking public comment for the comprehensive review of CAT.  

We also updated the Board on FINRA’s progress since launching FINRA Forward, including our rule modernization work, much of which is detailed in our recent report. As a reminder, you may find information about our current priorities, active rule filings, and recently approved or immediately effective rule filings in our Quarterly Regulatory Policy Agenda.

Governance and Oversight

The Board received several briefings as part of its oversight of management and the administration of FINRA’s work. This included an update on the outside review of our enforcement program. We plan to publish the recommendations from this outside review and the enhancements we are making to the enforcement program in response by the end of June.

As part of the Board’s review of FINRA’s finances, the Board received updates on investments to modernize the technology platforms supporting FINRA’s examination and public offering filing programs. The Board also approved FINRA’s 2025 Annual Financial Report, which will be published later this month consistent with our commitment to transparency. The Board also appointed new members to FINRA’s Advisory Committees, effective June 4.

SEC Chairman Paul Atkins joined the Board meeting to provide his perspective on a variety of issues facing the securities industry and the U.S. capital markets.

Before I close, I would like to remind you that the annual Board of Governors election recently began to elect one Large Firm Governor and one Small Firm Governor to the Board. FINRA Governors play a crucial role in providing the industry’s perspective on important issues before the Board, and we encourage you to cast your vote. FINRA published a notice on June 8 with details on the candidates and the election process. The executive representative of each firm eligible to vote should have also received an email from FINRA’s Election Agent ([email protected]) containing specific voting instructions. The election ends at FINRA’s Annual Meeting on July 13.

More information about the Board’s role and operations, including membership and responsibilities of its committees, is available here. 

Sincerely,

Robert W. Cook
FINRA President and CEO