For updates and guidance related to COVID-19 / Coronavirus, click here.

Guidance

We offer guidance to firms in the form of podcasts, webinars, FAQs, reports, and more. Use the toggle below to find guidance by topic, type or date. 

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Guidance
Targeted Examination Letter on Rights of Reinstatement (RoR)

November 2020

FINRA is conducting a review of firms’ systems and procedures for providing customers waivers and rebates available through Rights of Reinstatement1 (RoR) on mutual fund purchases.

As part of this review, FINRA will request that each firm that receives this information request respond to the questions below with respect to the period January 1, 2017 through June 30, 2020 (the relevant period):

November 11, 2020
Guidance
Implementation Guidance for Public Offerings Subject to FINRA Rule 5110
Participating members, as defined in Rule 5110, must comply with amended Rule 5110, beginning on September 16, 2020 (the Implementation Date).1 The amended Rule will apply notwithstanding when the offering was filed or declared effective or when a participating member received a No Objections Letter.
September 16, 2020
Guidance
Filing Guidance - Public Offering Review
Filing Guidance - Public Offering Review
September 15, 2020
Get Involved
Upcoming Board Meeting
This week, the FINRA Board of Governors will meet virtually for its September 2020 meeting.
September 08, 2020
Guidance
Interpretive Letter to Jason P. Ellison, Foreside Fund Services, LLC
A member firm may include related performance information in institutional communications concerning Section 3(c)(1) Funds, subject to the stated conditions discussed in the letter.
September 01, 2020
Guidance
Checklist for Mandatory Materiality Consultations Under Rule 1017(a)(6)

A member must submit a letter requesting a materiality consultation for specified changes in ownership, control, or business operations, including business expansions, involving a defined “covered pending arbitration claim,” unpaid arbitration award or unpaid settlement related to an arbitration.  Such letter must be submitted through FINRA Firm Gateway®, under the Materiality Consultation section.1 There is no fee associated with a mandatory materiality consultation.

September 01, 2020
Arbitration and Mediation
Arbitrator Training Videos for Virtual Hearings

COVID 19 has increased the demand for virtual arbitration and mediation hearings to ensure cases can proceed without lengthy delays. Upon request of the parties or order of the Panel, FINRA Dispute Resolution Services provides videoconferencing through the Zoom platform, accessible via finra.zoom.us.

August 07, 2020
Report / Study
2020 Industry Snapshot
FINRA regulates a critical part of the securities industry – brokerage firms doing business with the public in the United States. In an effort to increase public awareness and understanding about the broad range of FINRA-registered firms and individuals, FINRA shares an annual snapshot of some of the data collected in the course of its work.
July 31, 2020
FAQ
Gifts/Business Entertainment/Non-Cash Compensation FAQs
Q.  Would it be consistent with FINRA Rule 3220 (Influencing or Rewarding Employees of Others) and the non-cash compensation provisions of FINRA Rules 2310, 2320, 2341 and 5110 for an associated person to host a virtual business entertainment event or a video meeting with the employees of an institutional customer or third-party broker-dealer and provide food and beverage that is designed to be consumed during that event or meeting?
July 29, 2020
Guidance
Interpretive Letter to T. Douglas Hollowell, UBS Financial Services, Inc.
A member may use negative response letters to effect a bulk transfer of employee equity compensation plan accounts, as directed by an employer.
July 24, 2020
Guidance
Interpretive letter to Michael Markunas, B. Riley FBR, Inc. and B. Riley Wealth Management, Inc.

Registered representatives who are not qualified to engage in investment banking activities may, subject to specified conditions, receive transaction-based compensation for referring existing brokerage clients that express an interest in investment banking transactions.

June 16, 2020
Virtual Conference Panel
Social Distancing and the Impact on Older Investors
Today, social distancing is an important component of public health. However the isolation that results has important implications for financial decision making, fraud vulnerability, and cognition among older investors. Join this panel for a discussion of emerging research on these topics and steps you can take to further protect your clients.
June 15, 2020
Report / Study
Artificial Intelligence (AI) in the Securities Industry

Artificial Intelligence (AI) technology is transforming the financial services industry across the globe.

June 10, 2020
Virtual Conference Panel
Financial Crimes, Trends and Responses – In the Midst of the Pandemic
COVID-19 has altered the world as we know it. While some have responded to it as an incident or singular event, in the world of countering criminal threats we are seeing the need to treat it as a sustained campaign. This panel will discuss the multitude of threats across the financial crimes’ spectrum perpetrated by an aggressive yet flexible adversary.
June 09, 2020
Get Involved
Upcoming Board Meeting
This week, the FINRA Board of Governors will meet virtually for its June 2020 meeting.
June 08, 2020
About FINRA
Report on Use of 2019 Fine Monies

FINRA is a not-for-profit, self-regulatory organization (SRO) dedicated to promoting investor protection and market integrity in a manner that facilitates vibrant capital markets. One of FINRA’s tools for achieving this objective is fair and effective enforcement of our member firms’ compliance with securities laws and regulations.

June 04, 2020
FAQ
Frequently Asked Questions about Advertising Regulation
Frequently asked questions regarding FINRA Rule 2210, filing requirements and the how to use the Advertising Regulation Electronic Filing (AREF) system.
May 20, 2020
Virtual Conference Panel
How to Protect Yourself and Your Firm From Cyberattacks When Working From Home During COVID-19
Join FINRA staff and industry panelists as they provide examples of effective controls and tools their firms have put into place to monitor and address cybersecurity risks.
May 19, 2020
Events & Training
The Small Firm Conference Call
Small firms represent a critical portion of FINRA’s membership and often face regulatory challenges that are unique from their large firm counterparts.
May 13, 2020
Virtual Conference Panel
Regulation Best Interest: Compliance Inspections and Examinations
Attend this session to hear from OCIE, FINRA staff and industry experts as they discuss how they intend to examine and inspect for compliance with Reg BI, including a discussion of implementation challenges, frequently asked questions, and issues that are being considered.
May 12, 2020
Virtual Conference Panel
Regulation Best Interest and Form CRS: Where Are We Now
Join panelists as they discuss Regulation Best Interest and Form CRS, its impact on the industry and effective practices to help broker-dealers manage their obligations.
May 06, 2020
Report / Study
Protecting Senior Investors 2015-2020

Seniors make up an increasingly large share of the American population1 and hold higher levels of wealth than other generations. These factors, among others, make seniors an attractive target for financial exploitation, with evidence suggesting that such exploitation has been increasing in terms of both scope and magnitude.2 Sadly, while seniors sometimes fall victim to financial exploitation by strangers, they are often exploited by individuals they know and trust, such as family members or caregivers.

April 30, 2020
FAQ
FINRA Gateway Frequently Asked Questions

Will I be able to log in to FINRA Gateway with my existing Firm Gateway credentials? 

Yes, Firm Gateway users will be able to log in to FINRA Gateway using their existing Firm Gateway credentials.

Can I customize my experience in FINRA Gateway? 

Yes. As of April 7, 2020, you can:

April 15, 2020
Guidance
FINRA Highlights Firm Practices from Regulation Best Interest Preparedness Reviews
FINRA is sharing the following common practices we observed while conducting Reg BI preparedness reviews and other ongoing conversations with firms. We hope this helps firms assess their Reg BI initiatives and continue their work preparing for the compliance date.
April 08, 2020
Podcast
Business in the Time of COVID-19: BCPs, Regulatory Relief & More
The new coronavirus that causes COVID-19 has rapidly changed the way U.S. broker-dealers must conduct business as states implement various shelter-in-place and stay-at-home orders, forcing workers remote. On this episode, we talk to FINRA’s Chief Legal Officer and Head of Member Supervision to learn how FINRA is adapting its operations and providing important regulatory relief.
March 31, 2020