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Upcoming Board Meeting

From:

Robert W. Cook, FINRA President and CEO

To:

FINRA Member Firms

Date:

Monday, September 23, 2019

Following a productive series of strategy sessions in July, the FINRA Board of Governors will reconvene this week in New York for meetings that follow a more traditional agenda. The Board will review several rule proposals and receive a number of operational updates.

  • The Regulatory Policy Committee will review several proposals, including:
    • proposed amendments to the Code of Procedure to grant discretion to the Chief Hearing Officer to compensate hearing panelists;
    • proposed amendments to Capital Acquisition Broker rules;
    • a proposed rule to require firm approval of a registered person being a beneficiary, executor, or trustee, or having a power of attorney or similar position of trust for, or on behalf of a customer;
    • proposed changes to the Codes of Arbitration Procedure regarding a special arbitrator roster for expungement requests;
    • proposed amendments enhancing requirements for inter-dealer quotation systems that quote unlisted securities; and
    • proposed amendments permitting dissemination of aggregated TRACE data for U.S. Treasury securities.
       
  • The Regulatory Operations Oversight Committee will receive updates on several ongoing initiatives, including the Risk Monitoring and Examination Program Transformation, Trading and Financial Compliance examinations, and the reporting of transactions in U.S. Treasury securities to TRACE.
     
  • The Finance, Operations and Technology Committee will discuss FINRA’s long-term financial planning and receive an update on the Consolidated Audit Trail.

This meeting will be the first for our four newest Governors—Camille Busette, Chris Flint, Linde Murphy and Ethiopis Tafara—who began their terms in August. We look forward to benefiting from their experiences and diverse perspectives.

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 shortly after the meeting.

Sincerely,

Robert W. Cook