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
FINRA Provides Update on Sweep: Option Account Opening, Supervision and Related Areas

Background

In August 2021, FINRA launched a targeted exam (sweep) to review firms’ practices and controls related to the opening of options accounts and related areas, including account supervision, communications and diligence. FINRA’s review focuses on a cross-section of retail and diversified firms that offer options trading to their customers.

November 30, 2022
Media Center
Encore | Fraud Stoppers: FINRA’s Market Investigations Group
This episode originally aired in March 2022. Detecting and deterring fraud and insider trading is at the core of FINRA's mission of investor protection and market integrity. On this episode, the head of FINRA's Market Investigations team joins us once again to talk about the latest trends and patterns in FINRA's fraud and insider trading investigations, including some stories about some of the craziest and most interesting cases of the past few years.
November 29, 2022
Media Center
Enhancing Your Compliance Practice with the FINRA Institute at Georgetown CRCP Program
The FINRA Institute at Georgetown Certified Regulatory and Compliance Professional Program is designed to give compliance, legal and regulatory professionals an in-depth understanding of the foundation, theory and practical application of securities laws and regulation. On this episode, we hear from the CRCP Program's Academic Director and FINRA Program Leader about what makes the CRCP Program a must for FINRA member firms and their high-performing compliance staff.
November 15, 2022
Guidance
Cybersecurity Alert - Ongoing Phishing Campaign

This email is to warn member firms of an ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA and using the domain name “@filling-regfinra.com”. The domain of “filling-regfinra.com” is not connected to FINRA, and firms should delete all emails originating from this domain. Member firms should be aware that they may receive similar phishing emails from other domain names in addition to those identified in this Alert.

The email states:

Dear Name,

I hope all is well!

November 15, 2022
Guidance
Crypto Asset Communications
FINRA is conducting a targeted exam of firm practices regarding retail communications concerning Crypto Asset products and services.
November 14, 2022
Media Center
Membership Application Program: Reviewing and Approving Digital Asset Firms
The market for crypto assets has seen continued growth and firms are looking for ways to get involved in the digital asset space. So far, about two dozen firms have been approved by FINRA to provide services in securities backed by digital assets. And more firms are looking to follow in their footsteps. On this episode, we hear about some common sticking points in these new and continuing member applications and how FINRA is working to support innovation while protecting investors in this dynamic environment.
November 01, 2022
FAQ
Frequently Asked Questions (FAQ) about Short Interest Reporting
The guidance provided in these FAQs pertains to the reporting to FINRA of “short” positions pursuant to FINRA Rule 4560 (Short-Interest Reporting) in OTC Equity securities, as defined in Rule 6420, and securities listed on a national securities exchange.
October 27, 2022
Podcast
2022 Ketchum Prize: Advancing Financial Inclusion and Alleviating Racial and Gender Bias in Agricultural Lending
Dr. Cesar Escalante’s pioneering research into racial and gender biases in agricultural lending helped earned him the 2022 Ketchum Prize, the FINRA Foundation’s highest honor. On this episode, hear from Dr. Escalante about his research, his dedication to mentorship and more.
October 18, 2022
Media Center
CE Transformation Update: Annual Regulatory Element and the Latest on the MQP
A few new deadlines from the ongoing securities industry Continuing Education Transformation are right around the corner. On this episode, we hear how the Maintaining Qualifications Program is progressing and what firms can expect in with regard to changes to the Continuing Education Regulatory Element in the months ahead.
October 04, 2022
Arbitration and Mediation
The Neutral Corner - Volume 3—2022
The Neutral Corner - Volume 3—2022
September 27, 2022
Guidance
Jeffrey Eileen, ICE Bonds Securities Corporation
Application for Exemptive Relief from Trade Reporting Obligation for Certain Transactions on an Alternative Trading System
September 21, 2022
Media Center
FINRA Enforcement: Bringing Cases Against Individual Brokers
When it comes to bringing enforcement actions against individual brokers, there is a lot to consider, especially when the sanctions can be life altering for the individual in question. On this episode, we hear what makes cases against individual brokers different from those brought against firms and all the considerations involved.
September 20, 2022
Media Center
Regulatory Operations: Stronger Regulation Through Integrated Oversight
Member Supervision, Market Regulation and Transparency Services and Enforcement. These three teams together make up Regulatory Operations or Reg Ops, which is at the very core of FINRA's efforts to protect investors and ensure fair and efficient markets for all. On this episode, we hear from the heads of all three groups about how they are working together to increase coordination and to ensure integrated oversight, to be able to better anticipate and address risks.
September 06, 2022
Media Center
Introducing FINRA's Complex Investigations and Intelligence team and Cyber and Analytics Unit
The new Complex Investigations and Intelligence (CII) team and Cyber and Analytics Unit (CAU) are driving a shift in terms of how Member Supervision’s National Cause and Financial Crimes Detection Program comes at its work and leverages intelligence and analytics to drive decision making and operations. On this episode, we hear how these changes will help FINRA better deliver on its mission of investor protection, market integrity.
August 09, 2022
Media Center
Financial Capability Study: Financial Wellbeing During a Global Pandemic
The COVID-19 pandemic disrupted many facets of American life but did not derail a trend toward increasing financial capability. Still, not all Americans are benefiting equally from improvements in financial wellbeing, according to the new FINRA Foundation Financial Capability Study. On this episode we delve into the latest results of this nationwide, triennial study.
July 26, 2022
Guidance
The Report of the Independent Review of FINRA's Dispute Resolution Services – Arbitrator Selection Process
The Audit Committee of the FINRA Board of Governors engaged Lowenstein Sandler LLP to conduct an independent review in connection with a Fulton County, Georgia Superior Court decision vacating an arbitration award in favor of respondent Wells Fargo Clearing Services, LLC. The Court of Appeals of Georgia reversed the Fulton County, Georgia Superior Court decision finding no evidence of an agreement between Wells Fargo and FINRA. Furthermore, the Court of Appeals of Georgia found nothing that indicated Wells Fargo manipulated the arbitrator pool in the subject arbitration.
June 29, 2022
Media Center
Regulation Best Interest and Form CRS: Two Years In
We are marking the second anniversary of the implementation of Regulation Best Interest and Form CRS with a deep dive into everything FINRA has learned on the topic over the last two years. On this episode, we hear how FINRA is examining around the new regulations and explore some of the common problem areas and effective practices.
June 28, 2022
Arbitration and Mediation
The Neutral Corner - Volume 2—2022
The Neutral Corner - Volume 2—2022
June 27, 2022
About FINRA
Report on Use of 2021 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 member firms’ compliance with securities laws and regulations.

June 24, 2022
Guidance
Cybersecurity Alert - June 16, 2022
This email is to warn member firms of an ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA and using either the domain name “@firms-finra.org” or “@firms-sipc.org”.  Neither of these domains is connected to FINRA and firms should delete all emails originating from these domain names.
June 16, 2022
Podcast
Building a Better Future: FINRA’s Diversity, Equity & Inclusion Program
Juneteenth is a day to celebrate, but it's also a day to reflect upon the hardships that African Americans endured and the forces that continue to undermine the freedoms of Black Americans. On this episode, we invite you to join us in this reflection as we explore what FINRA has been doing to build a better future.
June 14, 2022
Guidance
Rule 4111 Compliance Tool Glossary

FINRA Rule 4111(b) requires the Department of Member Supervision (Department) to calculate annually a member firm’s "Preliminary Identification Metrics" to determine whether the firm meets the "Preliminary Criteria for Identification."1 A key driver of that is whether a member firm’s Preliminary Identification Metrics meet quantitative, risk-based "Preliminary Identification Metrics Thresholds."2 The date, each calendar year, as of which the Departmen

June 07, 2022
Guidance
Cybersecurity Alert - FINRA Notifies Member Firms of Microsoft Alert (CVE-2022-30190)

FINRA’s National Cause and Financial Crimes Detection (NCFC) Cyber and Analytics Unit (CAU) has noted a recent alert issued by Microsoft on May 30, 2022.

June 03, 2022
Media Center
AML Update: The Latest Trends and Effective Practices
Money laundering looks different in the securities industry and that poses its own challenges. Add to that a landscape of constantly evolving threats and it is a lot to keep up with. On this episode, we hear about emerging threats and how firms can ensure their AML program remains strong and effective.
May 31, 2022
Media Center
FINRA Annual Conference: Fireside Chat with Eileen Murray
The FINRA Annual Conference is packed full of panels with information on all the latest compliance trends and emerging regulatory issues. On today's episode, we're taking you behind the scenes of the opening plenary session of the 2022 event, a conversation between FINRA President and CEO Robert Cook and the chair of the FINRA Board of Governors, Eileen Murray.
May 17, 2022