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Introducing FINRA Gateway

May 13, 2020
Volume 19


  • Election Notice

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment
  • Annual Entitlement User Accounts Certification

Education and Compliance Programs

Move over Firm Gateway! FINRA’s new reporting and compliance system—FINRA Gateway—will be available to all member firms in June. FINRA Gateway—which will replace the current Firm Gateway—offers a unified user interface through which firms and vendors can manage all regulatory, compliance and registration activities in one place. Visit our website to learn more about the transition or sign up for an upcoming webinar.

Tune in to the latest episode of the FINRA Unscripted podcast. On this episode, Jessica Hopper, FINRA’s new Executive Vice President and Head of Enforcement, shares what her team is doing today, and every day, to prevent investor harm and to maintain the integrity of our markets. Listen to the podcast.

FINRA has released an overview of our 2020 annual budget as part of our commitment to provide greater transparency regarding our operations. This forward-looking report—initiated through FINRA360—details FINRA’s Financial Guiding Principles and our budget priorities this year.

FINRA’s new virtual conference panels provide a unique opportunity to hear the most up-to-date compliance information directly from industry and regulatory leaders right from the comfort of your home. Watch the latest panel on Regulation Best Interest: Compliance Inspections and Examinations to hear from SEC and FINRA staff, as well as industry experts, as they discuss how they intend to examine and inspect for compliance with Reg BI, including a discussion of implementation challenges and frequently asked questions.

FINRA is committed to providing guidance, updates and other information to help stakeholders stay informed about the latest COVID-19 developments. This week, FINRA:

  • Provided a new update on FINRA and NASAA’s upcoming delivery of an online testing service. FINRA has decided to extend the validation period. As a result, additional time is necessary before FINRA can make online appointment scheduling available to all test candidates and firms. We will continue to refine the implementation of this online service and will communicate an anticipated launch date in the near future.
  • Filed for immediate effectiveness with the SEC a proposed rule change to temporarily amend some timing, method of service and other procedural requirements.
  • Added to the State "Shelter-in-Place" and "Stay-at-Home" Orders page information about which states have begun to “re-open”, and continued to update the order expiration dates.

To discuss the latest updates, and other coronavirus-related issues, senior FINRA leaders are hosting a Small Firm Conference Call on Monday, May 18, at 4:30 p.m. Eastern Time. Space on the call is limited, so register today!

FINRA will continue to consider additional relief or adjustments as appropriate. For all of FINRA’s latest COVID-19 updates and answers to frequently asked questions, visit FINRA’s website.


Upcoming FINRA Board of Governors Election

The annual meeting of FINRA firms will take place on or about Friday, August 7, 2020, to elect one Large Firm Governor and one Small Firm Governor to the FINRA Board of Governors. A formal notice of the meeting, including the precise date, time and location, will be mailed to executive representatives on or about Wednesday, July 8, 2020. The purpose of Election Notice 5/8/20 is to announce the FINRA Nominating & Governance Committee nominees to fill these vacancies, and to inform individuals not nominated by the Nominating Committee of the procedures for being included as an additional candidate on the ballot for these elections.
Petitions for candidacy due are June 22, 2020

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA’s Capital Acquisition Broker (CAB) rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules, as described in Regulatory Notice 20-04, to make them more useful to CABs without reducing investor protection. The comment period has been extended to May 15, 2020.

FINRA is requesting comment on a proposal to implement the recommendations of the CE Council regarding enhancements to the continuing education requirements for securities industry professionals. The proposal, described in Regulatory Notice 20-05, would change the: (1) Regulatory Element to provide annual training, make the content more relevant, incorporate diverse instructional formats, publicize the learning topics in advance and enhance the related management systems; (2) Firm Element to expressly recognize other training requirements, improve the guidance and resources available to firms and establish a content catalog; and (3) Continuing Education Program to enable individuals who terminate their registrations the option of maintaining their qualification by completing continuing education. The comment period has been extended to May 31, 2020.

Annual Entitlement User Accounts Certification

FINRA's Annual User Accounts Certification Process is underway and will conclude July 20, 2020. During this period, Super Account Administrators (SAAs) for organizations with more than one user and/or administrator account must certify that individuals have the appropriate level of access to FINRA systems required to perform their job responsibilities or remove access if no longer required. This year, organizations with only an SAA account and no other users or administrators have the option to certify but are not required. For detailed information, refer to the Annual Entitlement User Accounts Certification Process page.


 Education and Compliance Programs

Registration is open for the 2020 Small Firm Conference. The event will be held on November 11–12 in Santa Monica, California, and will bring together FINRA staff and industry peers for in-depth discussions on small firms' practices. Register early to receive discounted registration rates!

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Regulatory Contacts
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