Upcoming FINRA Board Meeting

September 16, 2025

The FINRA Board of Governors is holding its third meeting of the year this week. Before previewing the agenda, I would like to update you on actions the Board took since it last met in June. In order to accelerate our FINRA Forward rule modernization efforts, the Regulatory Policy Committee convened in July to review four rule proposals that otherwise would have had to wait until this week’s meeting. The Committee approved the following proposals, which have been or will be filed with the Securities and Exchange Commission: 

  • several amendments to FINRA corporate financing rules to promote capital formation without lessening investor protections;
  • a revised proposal for outside activities requirements;
  • an amended gifts proposal, which would further increase the gift limit from $250 to $300; and
  • a revised proposal to amend the Capital Acquisition Broker (CAB) rules to allow CABs to represent buyers as well as sellers in specified private placement and M&A transactions.

Following are some items the Board committees will address at this week’s meeting. 

  • The Audit and Risk Committee will:
    • receive an update on FINRA’s cybersecurity program from FINRA’s Chief Information Security Officer Eric Pickersgill.
       
  • The Regulatory Policy Committee will:
    • consider proposed amendments to FINRA’s pattern day trading rules; and
    • receive an update on FINRA’s other rule modernization efforts, which were published as part of FINRA Forward, a series of initiatives to further improve our effectiveness and efficiency.
       
  • The Finance, Operations, and Technology Committee will:

You may find more information about the Board’s operations, including the membership and responsibilities of its committees, by visiting FINRA’s governance page. 

I look forward to sharing an update about our discussions shortly after the meeting.

Sincerely,

Robert W. Cook
FINRA CEO