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Small Firm Scholarship Application Period Ends This Friday

September 13, 2023
Volume 37




Upcoming Deadlines and Effective Dates

 • FINRA Elections


Education and Compliance Programs


As a reminder, 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 Small Firm Scholarship application period ends this Friday, September 15. The scholarship covers full tuition for the entire CRCP program, including room and board. For more information, including eligibility requirements, the selection process and our online application, please visit our Small Firm Scholarship web page.


The FINRA Board of Governors meets this week; among other items, the Board’s committees will review a rule proposal related to over-the-counter options trade reporting for regulatory purposes and conduct the biennial review of FINRA’s Financial Guiding Principles. Read Robert Cook’s pre-meeting email to firms to learn more.


The Securities and Exchange Commission has amended Rule 15c6-1(a) to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (T+2) to one business day after the trade date (T+1). To aid firms in preparing for this transition, FINRA is updating the Regulatory Extension (REX) system to enable firms to file an extension of time requests under the shortened settlement cycle.

FINRA is highlighting a recent joint Cybersecurity and Infrastructure Security Agency (CISA) and Federal Bureau of Investigation (FBI) Cybersecurity Advisory published on August 30, 2023. The Advisory complements the successful effort of the FBI and international partners to disrupt Qakbot on August 25, 2023, which included the seizure of over $8.6 million worth of crypto assets extorted from victims.

 Upcoming Deadlines and Effective Dates

FINRA Elections
FINRA is holding several elections to fill seats on the Small Firm Advisory Committee (SFAC) and Regional Committees.

  • Two seats on the SFAC representing the Midwest and South regions are up for election. Individuals interested in becoming candidates for this election must submit a candidate profile form to FINRA’s Corporate Secretary by October 11, 2023.
  • Election Notice 09/11/23 describes the nomination and election process to fill vacancies on FINRA’s Regional Committees. Regional Committees for the South and West regions each have six full-term vacancies, and the Midwest, North and New York regions each have four full-term vacancies to fill. Eligible candidates will be included on the appropriate ballot if they submit a candidate profile form to FINRA’s Corporate Secretary by October 11, 2023.

 Education and Compliance Programs

Meet FINRA staff and attend panels tailored to your firm’s business model at FINRA’s Firm Grouping Conference on October 9-10, in Kissimmee, FL. This in-person event is designed to provide FINRA member firms the opportunity to engage in conversations and discuss risk and compliance on key topics tailored to each firm grouping (Retail, Capital Markets & Investment Banking, Clearing & Carrying, Diversified and Trading & Execution). This conference also offers networking opportunities to meet with other professionals across firm segments and FINRA senior leadership including a significant presence of Member Supervision officers and senior directors. View the agenda for more information.

View the agenda for the 2023 Small Firm Conference. Join us in Santa Monica, CA, or participate virtually on October 25-26, for the opportunity to discuss small firm topics, share insights and effective practices, and hear detailed exchanges on industry and regulatory updates.

Additional speakers were just announced for the October 31 – November 2 virtual FINRA Diversity Leadership Summit. Register today to hear from:

  • Prof. Loretta Ross – Associate Professor, Smith College (Keynote Speaker);
  • Hon. Sharon Bowen – Chair of the NYSE, Director of Intercontinental Exchange;
  • Robert Cook – President and CEO, FINRA;
  • Christian Baldia, Adjunct Associate Instructor, Columbia University School of Professional Studies, and more.

Visit the conference website for more information and to register.

Last call for NYC! Grab one of the remaining seats for next week’s Registration Systems Foundation Training on September 19. This one-day training is offered for firm compliance personnel who want to become more familiar with navigating FINRA Gateway and submitting Uniform Forms.

Register for all of FINRA’s upcoming events:

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Regulatory Contacts
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