Upcoming Board Meeting

The FINRA Board of Governors meets this week for the final time in 2017. As is customary for each year’s December meeting, the Board’s discussions will review 2017 accomplishments and FINRA’s 2018 goals and budget. In addition, we are reviewing—as part of the FINRA360 organizational review—the guiding principles that inform how we manage our finances.

The Board and its Committees will also be considering several other significant matters, including the following:

  • Proposed rule amendments with respect to:
    • Trade Reporting and Compliance Engine (TRACE) rules regarding the identification by alternative trading systems of certain subscribers when reporting transactions in U.S. Treasury securities to TRACE;
    • rules regarding communications with the public and research, to conform these rules to the requirements of the Fair Access to Investment Research Act of 2017 (FAIR Act);
    • outside business activities and private securities transactions, as a result of our retrospective review of those rules;
    • Rule 2111 (Suitability) regarding the quantitative suitability obligation;
    • rules relating to equity IPO allocations that will remove unnecessary impediments to capital formation and lessen burdens in the public offering process; and
    • fees for the new Securities Industry Essentials examination and the revised representative-level examinations.
  • Proposed changes to FINRA Committees in response to comments made in connection with FINRA’s Special Notice on Engagement, as well as other recommendations made in response to this Notice.
  • Updates on the integration of FINRA’s enforcement programs, a preview of FINRA’s 2018 examination priorities, and the longer-term plans for FINRA’s examination program.
  • Updates on FINRA’s Innovation Outreach Initiative and the use of Distributed Ledger Technology (also known as blockchain) in the securities industry.

I look forward to sharing an update about these discussions after the meeting.


Robert W. Cook
President and CEO