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Small Firms Information

FINRA has created this page to provide information for the small firm community—those firms with 150 or fewer registered representatives. This page contains current and past communications, links of interest to small firms, and other information.


September 16, 2019

The Small Firm Report: SEC’s Regulation Best Interest (Reg BI)

Tuesday, October 8, 2019
3:00 p.m. ET

Registration is now open for our next Small Firm Report, a free conference call series hosted by senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices. FINRA President and CEO Robert Cook and Senior Vice President of Member Relations & Education Chip Jones will be joined by Executive Vice President and Chief Legal Officer Bob Colby and Vice President and Associate General Counsel Jim Wrona to discuss the SEC’s Regulation Best Interest (Reg BI).

This event is open to all members. Register Now | Submit a Question


September 9, 2019

The Small Firm Report: Consolidated Audit Trail (CAT) – Audio Recording

Monday, August 12, 2019
3 p.m. ET

The Small Firm Report conference call took place on August 12, 2019. FINRA President and CEO Robert Cook was joined by Senior Vice President of Member Relations and Education Chip Jones, Vice President Dave Chapman, as well as Senior Director, CAT Business Operations, FINRA CAT, LLC Paul McKenney, to discuss current progress and reporting obligations for the Consolidated Audit Trail (CAT).

Register for Access

September 4, 2019

CRCP Small Firm Scholarship
Application Deadline Extended

FINRA is offering five scholarships to industry professionals from small firms to attend the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program. The scholarship covers full tuition for the two-week program, including room and board. FINRA is accepting applications now through September 27, 2019.

For more information, including eligibility requirements, the selection process and application form, please visit the CRCP Scholarship Program page.
 


July 25, 2019

Registration for Fall RAD Training Sessions is Open:

  • Foundations of CRD Training • September 23 - 24, 2019 • Rockville, MD
    This training is designed for broker-dealer (BD) firms or joint BD/investment adviser firms and will cover both classic CRD and new CRD functionality, registration and disclosure hot topics, plus an overview of IARD. Cost $500.
  • FINRA Registration and Disclosure Boot Camp • September 25- 26, 2019 • Rockville, MD
    This training is designed for those who are new to reporting disclosure information in CRD or those who want to receive refresher training and reporting tips. Cost $600
  • BOGO Offer: Foundations of CRD Training and FINRA Registration and Disclosure Boot Camp• September 23- 26, 2019 • Rockville, MD
    Attend both trainings (Foundations of CRD and FINRA Registration and Disclosure Boot Camp training) for a reduced cost of $800.

    To receive the discount, register for one of the classes. The discount code to register for the other class will be included in your email confirmation. The discount is non- transferable and only valid for one person to attend both events.

    Space is limited, so register soon.


July 16, 2019

Filing Guidance

Corporate Financing has developed guides to assist firms that submit Public Offerings and Private Placements.

 


June 5, 2019

2019 FINRA Small Firm Conference - Registration Open

FINRA's Small Firm Conference focuses on small firms' practices and tips for complying with FINRA rules. Throughout the event, attendees have the opportunity to discuss small firm issues with FINRA senior staff. The conference is scheduled for October 23 – 24, 2019, in Santa Monica, CA. Register to secure your seat.


Regulatory Notice 19-19

FINRA Reminds Firms to Register for CAT Reporting by June 27, 2019.


May 8, 2019

Core Cybersecurity Controls for Small Firms

FINRA developed a Core Cybersecurity Controls for Small Firms - AC Flier list to help small firms in establishing an effective cybersecurity program.


April 29, 2019

Information Notice – 4/29/19

Imposter Websites Impacting Member Firms.


March 22, 2019

Preferred Pricing Program: Information Archive Services

The FINRA Preferred Pricing Program is an online directory of vendors that offer discounted pricing on a variety of Information Archiving Services.


March 6, 2019

Small Firm Report: FINRA’s 529 Plan Share Class Initiative – Audio Recording

Small firms represent a critical portion of FINRA’s membership and often face regulatory challenges that are unique from their large firm counterparts. In an effort to provide additional compliance education, FINRA launched The Small Firm Report, a series of free conference calls featuring senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices.

Our fourth Small Firm Report took place on Wednesday, February 20. FINRA President and Chief Executive Officer Robert Cook, was joined by Senior Vice President of Member Relations and Education Chip Jones and Executive Vice President of Enforcement Susan Schroeder to discuss FINRA’s 529 Plan Share Class Initiative.

A recording of the call is now available to FINRA member firms.

Register for Access


January 22, 2019

2019 Annual Risk Monitoring and Examination Priorities Letter

Each year FINRA publishes its risk monitoring and examination priorities to highlight significant risks and issues that could adversely affect investors and market integrity in the coming year.


2018 Report on FINRA Examination Findings

FINRA published its second annual report detailing observations from recent exams of firms.


December 20, 2018

Report on Selected Cybersecurity Practices – 2018

Report on Selected Cybersecurity Practices – 2018 is a detailed review of effective information-security controls at securities firms. The report is designed to help broker-dealers – including small firms – further develop their cybersecurity programs. The report addresses areas that firms tend to find most challenging: cybersecurity controls in branch offices; methods of limiting phishing attacks; identifying and mitigating insider threats; elements of a strong penetration-testing program; and establishing and maintaining controls on mobile devices.


December 18, 2018

The Small Firm Report

Our third Small Firm Report took place on Tuesday, November 27. FINRA Chief Executive Officer Robert Cook, was joined by Senior Vice President of Member Relations and Education Chip Jones, Senior Vice President of Investor Education Gerri Walsh and Senior Director of Advertising Regulation Amy Sochard to discuss:

  • New Research on Millennial Investors and Implication for Industry
  • Digital Communications and Social Media Compliance

A recording of the call is now available to FINRA member firms. Register for access.


October 1, 2018

Materials from the SIE Exam and Exam Restructuring Calls

FINRA's Registration and Disclosure Department is holding a series of conference calls to discuss the Securities Industry Essentials (SIE) exam, the restructure of representative-level qualification exams, and the consolidation of registration rules that took effect October 1, 2018.


August 20, 2018

Small Firm Report – Audio Recording

Small firms represent a critical portion of FINRA’s membership and often face regulatory challenges that are unique from their large firm counterparts. In an effort to provide additional compliance education, FINRA launched The Small Firm Report, a series of free conference calls featuring senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices.

View more details, including how to register.


May 1, 2018

Capital Acquisition Broker Written Supervisory Procedures Checklist

FINRA published a Written Supervisory Procedures checklist for capital acquisition brokers (CABs). It outlines selected key topics, ranging from administration to supervision and oversight.


April 25, 2018

FINRA 360 Progress Report

FINRA published a comprehensive progress report summarizing the significant operational and regulatory changes FINRA has made in the first year of its ongoing FINRA360 organizational review.


April 25, 2018

Investor Education: Protecting Seniors from Financial Exploitation

FINRA Investor Education published information to help investors better understand FINRA Rules Relating to Protecting Seniors from Financial Exploitation. Firms may use this to explain their ability to place a temporary hold on the disbursement of funds or securities and role of the trusted contact person.


 

May 23, 2016

Small Firm Cybersecurity Checklist

FINRA has created a Cybersecurity Checklist to assist small firms in establishing a cybersecurity program to identity and assess cybersecurity threats, protect assets from cyber intrusions, detect when their systems and assets have been compromised, plan for the response when a compromise occurs and implement a plan to recover lost, stolen or unavailable assets. This checklist is primarily derived from the National Institute of Standards and Technology (NIST) Cybersecurity Framework and FINRA's Report on Cybersecurity Practices. Use of this checklist does not create a "safe harbor" with respect to FINRA rules, federal or state securities laws, or other applicable federal or state regulatory requirements.


Other Announcements

Quarterly Disciplinary Review

View the latest issue of the Quarterly Disciplinary Review, a summary sampling of recent disciplinary actions involving misconduct by registered representatives that call attention to, and remind registered representatives and firms of, specific conduct that violates FINRA rules and may result in disciplinary action.


FINRA Rule Filing Status Report

The FINRA Rule Filing Status Report provides firms with a comprehensive list of FINRA rule filings currently pending with the SEC, as well as FINRA rule filings approved by the SEC, filed with the SEC for immediate effectiveness, or withdrawn within the last six months.

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