FINRA to Distribute Member Firm Fee Rebate

Features

• FINRA to Distribute Member Firm Fee Rebate
  FINRA’s Board of Governors in December approved a $100 million rebate of 2025 regulatory fees to eligible member firms. FINRA plans to distribute it on March 31 to active member firms in good standing as of Dec. 31 and that paid FINRA fees in 2025. The rebate is based on strong 2025 results and is consistent with FINRA’s Financial Guiding Principles, our status as a not-for-profit membership organization, and our sustainable funding plan. Details about the rebate are posted here and also were emailed today to member firm chief executive officers, chief financial officers, and executive representatives.
  
   
• FINRA Publishes Annual Engagement Notice
  As a self-regulatory organization, engagement with our member firms is critical for FINRA to carry out our mission of promoting market integrity and protecting investors. Our annual Engagement Notice, published on March 17, offers an overview of the numerous opportunities for members and other interested parties to become involved. These include our various committees, working groups, roundtable meetings, and the FINRA Board of Governors. Interested individuals should use FINRA’s Engagement Portal to submit an indication of interest. FINRA staff will contact qualified individuals when openings are available.
  
   
• Update from FINRA Board of Governors Meeting
  At its March 4-5 meeting, the FINRA Board of Governors approved five rule proposals and received several briefings in connection with its oversight of management and the administration of FINRA’s work. The proposals addressed qualification exam waiting periods, electronic delivery of information requests, order allocation procedures, arbitrator selection, and security reconciliation requirements. In addition, the Board approved the allocation of prior-year fine monies to various initiatives. More information about the meeting is available here.
  
   
• New Rate for Exchange Act Section 31 Fees
  Effective April 4, the Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will increase from its current rate of $0.00 per million dollars in transactions to a new rate of $20.60 per million dollars in transactions. Until April 4, the current rate of $0.00 per million dollars will remain in effect. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction. Please see yesterday’s Information Notice for further details.
  
   
• FinCEN Issues Exceptive Relief to Streamline Customer Due Diligence Requirements
  The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) on Feb. 13 issued an order granting exceptive relief to covered financial institutions, including broker-dealers, from requirements set forth in 31 C.F.R. § 1010.230(b) to identify and verify the identities of beneficial owners of legal entity customers each time a new account is opened. With this relief, covered financial institutions may instead limit their identification and verification of beneficial owners to three circumstances: (1) when a legal entity customer first opens an account with the institution; (2) any time thereafter when the covered financial institution has knowledge of facts that would reasonably call into question the reliability of beneficial ownership information previously obtained about the legal entity customer; and (3) as needed based on a covered financial institution's risk-based procedures for conducting ongoing customer due diligence. Read the FinCEN order for full details. 
  
   
• New Report Card to Launch Next Week
  FINRA will introduce the Reg M – Rule 5190 Filings Report Card on March 23. This free and optional resource reflects our ongoing commitment to providing firms with innovative tools that strengthen their compliance and regulatory oversight capabilities. The Reg M – Rule 5190 Filings Report Card enables firms to assess their compliance with Rule 5190, which establishes notification requirements for all members participating in securities offerings subject to SEC Regulation M. The report card identifies potential concerns and allows firms to benchmark their compliance performance against industry-wide metrics. To prepare for the launch, we invite you to join us for a webinar on March 19, 11-11:30 a.m. Eastern Time (ET).
  
   
• Cyber Security Alert on Iran-Related Threats
  Member firms should be vigilant about heightened cybersecurity risks amid ongoing geopolitical tensions in the Middle East. Although, as of March 16, FINRA is not aware of any significant Iran-related cyberattacks against the financial services industry, recent reporting indicates that Iranian threat actors are actively targeting U.S. financial institutions and critical infrastructure sectors. We encourage member firms that identify data breaches or attempted data breaches to contact their Risk Monitoring Analyst, and report them to FINRA using the Regulatory Tip Form found on FINRA.org, and the SEC using the Tips, Complaints, and Referrals form, or by calling (202) 551-4790. Please see the Cyber Alert for more information.
  
   
• Treasury Publishes National Money Laundering Risk Assessment
  The U.S. Department of the Treasury recently published its 2026 National Money Laundering Risk Assessment, which identifies what it considers the top money laundering threats facing the United States. FINRA is sharing this resource with member firms in support of the industry’s anti-money laundering efforts.
  
   
• ICYMI: Notice on Temporary Exception for Qualifying Overnight Transaction Reporting
  Beginning March 30, the trade reporting facilities (TRFs) for NMS stocks will open at 4 a.m. ET each business day rather than 8 a.m. ET. As detailed in Regulatory Notice 26-07 published on March 9, FINRA recently adopted a limited, temporary exception for reporting qualifying overnight transactions prior to 8 a.m. ET. The temporary exception goes into effect on March 30, to coincide with the extended TRF operating hours, and will expire upon the earlier of any further extension of the TRF operating hours, or Dec. 31, 2027.
  
   
• ICYMI: Deadline Approaching to Switch to New Version of Duo Mobile App
  FINRA reminds firms using the Duo Mobile app for multi factor authentication to install the latest version (minimum version of 4.85) of the app by March 31 to avoid an interruption in access to FINRA systems. After March 31, older versions will no longer be supported and will stop working.

• FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The March 2026 Monthly Disciplinary Actions are available here.