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FINRA Diversity Summit; Request for Comment on FINRA Rules

April 10, 2019
Volume 15

  • Regulatory Notices

Upcoming Deadlines and Effective Dates
  • FINRA Request for Comment
  • SEC Request for Comment

Education and Compliance Programs

FINRA’s registration systems cloud migration is underway. As a reminder, the migration of FINRA’s registration systems is underway and requires several weekends this month. During this time, Web CRD, IARD, PFRD and FPRD will be unavailable to all users. Please refer to our availability schedule for the complete list of dates and hours for these planned outages.

If you have any questions or experience any issues during the migration period, please contact the FINRA Contact Center: (301) 590-6500.

FINRA provides several compliance tools, templates and checklists to help your firm comply with FINRA rules. Recently, FINRA launched two new compliance resources for FINRA member firms.

  • Peer-2-Peer Compliance Library is designed to provide a one-stop source to locate templates, checklists and other materials provided by FINRA registered firms as supplemental resources at FINRA events. This library includes documents supporting six compliance-related topics.
  • Preferred Pricing Program, which is located in the Compliance Vendor Directory, offers member firms access to compliance-related services at a discounted rate. The initial compliance-related service included in the program is information archiving.

Visit our website to learn more.

FINRA hosted its seventh annual Diversity Summit on April 2 in New York. Firm leaders, diversity practitioners and human resources professionals in the financial services industry came together to learn and exchange ideas on the practical implications associated with creating a corporate culture that cultivates diversity of thought to drive innovation and creative problem solving. Watch the recap video.


FINRA Provides Guidance on Customer Communications Related to Departing Registered Representatives

Regulatory Notice 19-10 addresses the responsibilities of member firms when communicating with customers about departing registered representatives.

FINRA Announces Update of the Interpretations of Financial and Operational Rules

FINRA has issued Regulatory Notice 19-11 to update the Interpretations of Financial and Operational Rules that the staff of the SEC’s Division of Trading and Markets (SEC staff) has communicated to FINRA staff. The update relates to Securities Exchange Act (SEA) Rule 15c3-1(c)(2)(viii) (Open Contractual Commitments).


 Upcoming Deadlines and Effective Dates

FINRA Request for Comment

FINRA is conducting a retrospective review of Rule 4370 (Business Continuity Plans and Emergency Contact Information), FINRA’s emergency preparedness rule, to assess its effectiveness and efficiency. Regulatory Notice 19-06 outlines the general retrospective rule review process and seeks responses to several questions related to firms’ experiences with this specific rule. Comments are due April 26, 2019.

SEC Request for Comment on FINRA Rules

The SEC requests comment on FINRA’s proposal to amend FINRA rules to establish a new issue reference data service for corporate bonds, consistent with a recommendation from the SEC’s Fixed Income Market Structure Advisory Committee (FIMSAC). The comment period expires April 29, 2019. See the Federal Register notice.

 Education and Compliance Programs

This year's FINRA Annual Conference (May 15–17, 2019) features more than 60 sessions, including special tracks related to trends in AML, cybersecurity, fixed income and much more. Register today to hear from over 200 speakers, including keynote addresses from FINRA President and CEO Robert Cook; FINRA Executive Vice President of Member Supervision Bari Havlik; and the author of The Pursuit of Happyness Chris Gardner.

Check out our video to see what’s new and back by popular demand. Download the updated conference brochure, which includes the full agenda and confirmed speakers.

Register for the 2019 Compliance Outreach Program for Municipal Advisors, which takes place Tuesday, May 21, 2019, in San Francisco, CA. This free one-day program is designed to provide an open forum for municipal advisory industry professionals to discuss current compliance practices with regulators and promote a more effective compliance structure for regulatory obligations of municipal advisors. The program is sponsored by the SEC's Office of Compliance Inspections and Examinations (OCIE), in coordination with the SEC's Office of Municipal Securities, FINRA and the MSRB.

Register today to attend in person or via live audio webcast.

FINRA is hosting several upcoming Half-Day Compliance Boot Camps, AML Half-Day Seminars and Cybersecurity Half-Day Seminars across the country.

Half-Day Compliance Boot Camps

  • May 23, 2019 | Dallas, TX
  • June 4, 2019 | Chicago, IL
  • June 12, 2019 | New York, NY
  • June 14, 2019 | Tempe, AZ

AML Half-Day Seminar – June 4, 2019 | Costa Mesa, CA

Cybersecurity Half-Day Seminar – July 16, 2019 | Chicago, IL

FINRA's Registration and Disclosure (RAD) training team offers several training solutions designed for those at broker-dealer or joint broker-dealer/investment adviser firms. Training programs include:

  • Foundations of CRD Training (next session offered June 6–7, 2019, in Chicago, IL)
  • Registration and Disclosure Boot Camp (upcoming sessions will be announced soon)
  • Custom Web CRD Training (contact the RAD training team to inquire about a training session that is tailored to the needs of your organization.)

Visit FINRA's Web CRD Training and Support page to learn more. Space is limited, so please register early.

Register today for an upcoming district compliance event on June 12, 2019, in Boston, MA. This event is designed for compliance and legal professionals at FINRA member firms, and offers an opportunity to hear about current regulatory issues while engaging with District Office staff.

Also coming up:

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Regulatory Contacts
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