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FINRA Regional Committee and Small Firm Advisory Committee Elections

Novemer 13, 2019
Volume 46


  • Information Notice

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment

Education and Compliance Programs

FINRA elections are underway to fill vacancies on the Regional Committees and the Small Firm Advisory Committee (SFAC). Ballots for each election are due November 20, 2019. The candidates running for election are listed in the following Election Notices:

Firms in District 4 and District 7, and small firm members in the New York Region are urged to vote in these elections by the November 20, 2019 deadline.

fileX is a centralized, secure file transfer platform (SFTP) where firms can programmatically send, track and receive files in one place. fileX significantly streamlines the process for submitting bulk filings to FINRA, provides additional options for downloading files from FINRA, and allows for seamless and secure authentication and authorization. fileX supports the following three service methods through which files can be transferred to FINRA: SFTP, REST API and S3 Direct. The key features, benefits, access details of each service and a user guide can be found on our website.

The current phase of transitions is focused on migrating Regulatory Extension (REX) System, INSITE, 4530, and Daily Net Capital Feed. If your firm does not submit filings by batch submission, there is no action required. If your firm is using file transfer for these applications, FINRA will provide detailed information about the fileX platform, required actions, and migration process to the appropriate contacts at your firm.



2020 and First Quarter 2021 Report Filing Due Dates
To assist members in their financial reporting obligations, FINRA has issued Information Notice 11/11/19 to provide the due dates for Annual Report, Financial and Operational Combined Uniform Single (FOCUS), Form Custody, and supplemental FOCUS Report filings that are due in 2020 or the first quarter of 2021. Members are reminded that all such filings submitted to FINRA must be made electronically though FINRA’s Firm Gateway.

Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative, and Branch Renewals for 2019
The 2020 Renewal Program began on November 11, 2019, when FINRA made the Preliminary Statements available to all firms in E-Bill. As described in Regulatory Notice 19-35, the payment deadline is December 16, 2019.

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

Registered Person Being Named a Customer’s Beneficiary or Holding a Position of Trust
FINRA has issued Regulatory Notice 19-36 to request comment on a proposal to limit a registered person from being named a customer’s beneficiary or holding a position of trust on behalf of a customer. The proposed rule would require the member firm with which the registered person is associated to review and approve the registered person assuming such status or acting in such capacity. The proposed rule would not apply where the customer is a member of the registered person’s “immediate family.” Comments are due by January 10, 2020.

Odd Lots Proposal
FINRA and the other participants of the Consolidated Quotation (CQ) Plan and the Nasdaq Unlisted Trading Privileges (UTP) Plan have issued a proposal for adding odd lot quotation information to the Securities Information Processor or “SIP” data feeds. The Plan participants are actively seeking input on the proposal, which is available on both the CTA website and UTP website. Comments are due by November 15, 2019.


 Education and Compliance Programs

FINRA’s 2019 Regulation Best Interest Conference will be held on December 18 in Washington, D.C. This one-day event is designed to bring regulators, executives and industry practitioners together to learn more about the SEC’s Regulation Best Interest (Reg BI). FINRA is offering free registration to the first two attendees from each firm. Register today to reserve your spot.

Register today for FINRA’s 2020 Cybersecurity Conference on January 14 in New York, NY. This one-day event helps you stay current on today’s cybersecurity challenges and the ways in which organizations can understand vulnerabilities and threats, and create resilience against cyber attacks. View the conference agenda for more information.

District compliance events are designed for compliance and legal professionals at FINRA member firms, and offer an opportunity to hear about current regulatory issues while engaging with District Office staff. Review the compliance calendar to see a complete list of events.

Also coming up:

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Regulatory Contacts
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Firms wishing to change the name or email address of their executive representative or designated assistant should do so through the FINRA Contact System (FCS). See for further information. Requests from executive representatives to be removed from this email notification list cannot be honored.

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