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
TRACE Foreign Sovereign Debt
Beginning Monday, November 6, 2023, FINRA will require firms to report transactions in U.S. dollar-denominated foreign sovereign debt securities to TRACE.
June 01, 2023
About FINRA
Report on Use of 2022 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.

May 31, 2023
Media Center
In Review: Looking Forward with FINRA and Board Chair Eric Noll
Each year, FINRA hosts its Annual Conference in Washington, D.C. packed full of panels with information on all the latest compliance trends and emerging regulatory issues. On this episode, we're taking you behind the scenes of this year's Annual Conference to listen in on a conversation between FINRA President and CEO Robert Cook and the Chair of the FINRA Board of Governors, Eric Noll.
May 30, 2023
Board of Governors Meeting
May 2023 Board Update
During its May 17 and 18 meeting, the FINRA Board of Governors appointed new public governor Lisa Fairfax, approved FINRA’s 2022 Annual Financial Report and appointed new members to FINRA Advisory Committees.
May 25, 2023
Media Center
Enforcement and Economics: Driving Better Case Outcomes Through Collaboration
Litigation economics is not something they teach in most schools, but when it comes to unique or first of their kind enforcement matters, it's an important skill to have. On this episode, we hear how FINRA's Enforcement team has been partnering up with the Office of Regulatory Economics and Market Analysis to ensure better case outcomes.
May 16, 2023
Media Center
A New Twist on New Account Fraud: Detecting and Preventing ACATS Fraud
In recent months, FINRA has published two Regulatory Notices regarding the fraudulent transfer of customer accounts using an automated system called ACATS. On this episode, we'll hear all about what goes into the creation of a Reg Notice and take a deep dive on this particular issue.
May 02, 2023
Guidance
Interpretive Letter to Janet Dyer, National Financial Services, LLC

A clearing member may use negative response letters to assign orphan accounts to an introducing broker-dealer on the clearing member’s platform.

Dear Ms. Dyer:

I am responding to your letter dated March 10, 2023, as supplemented by conversations with the staff, in which you seek interpretive guidance regarding the use of negative response letters by National Financial Services LLC (“NFS”) to assign certain orphan brokerage accounts to an introducing broker-dealer that clears through NFS (the “Receiving Broker-Dealer”).

April 26, 2023
Guidance
Insider Threats – Effective Controls and Practices

Overview

This publication outlines emerging insider threat risks and helps member firms identify, prevent, detect, and respond to these threats, including:

April 18, 2023
Media Center
2023 Senior Investor Protection Conference: The Latest Trends, Scams and Schemes
In March, FINRA hosted the Senior Investor Protection Conference, a one-day event dedicated to sharing the most up-to-date regulatory information, effective strategies and solutions for protecting senior and other vulnerable investors from exploitation. On this episode, we're taking an abridged look at one of the conference sessions on the various trends, scams and schemes currently impacting investors.
April 18, 2023
Guidance
Cybersecurity Alert - Ongoing Phishing Campaign

Impact: All Firms

This notification is to warn member firms of an ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA and using the domain names “@finrarps.org” or “@finrarps.net”. The domains of “finrarps.org” and “finrarps.net” are not connected to FINRA, and firms should delete all emails originating from these domains. 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 from “finrarps.org” states:

April 04, 2023
Media Center
FINRA's Risk Monitoring Program: Understanding the Unique Risks of Every Firm
FINRA's Risk Monitoring team is responsible for assessing financial, operational and business conduct risks that exist within individual member firms and across the industry. But they're also the day-to-day point of contact for firms for any questions they may have for FINRA. On this episode, we hear how they spot and track risks across similar firms.
April 04, 2023
Media Center
Encore | 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.
March 21, 2023
Arbitration and Mediation
The Neutral Corner - Volume 1—2023
The Neutral Corner - Volume 1—2023
March 20, 2023
Board of Governors Meeting
March 2023 Board Meeting
FINRA’s Board of Governors met on March 9 and 10, and it approved a proposal to shorten the securities settlement cycle from two business days after the trade date (T+2) to one (T+1) and approved the allocation of 2022 fine monies to various capital initiatives.
March 15, 2023
Media Center
Then and Now: Following Up with the New and Experienced Investors of 2020
In 2020, a surge of new investors entered U.S. securities markets for the very first time, and the FINRA Foundation and its research partners at NORC at the University of Chicago jumped into action to get to know just exactly who these investors were. Two years later, they followed up to see where those investors are now. On this episode, we hear more.
March 07, 2023
Guidance
FINRA Provides Update on Sweep: Social Media Influencers, Customer Acquisition and Related Information Protection
This follow-up to the September 2021 targeted exam (sweep) of firms’ practices related to their acquisition of customers through social media channels and their sharing of customers’ usage information with affiliates and non-affiliated third parties summarizes selected practices FINRA has observed firms implement to this point in the sweep.
February 28, 2023
Guidance
Cybersecurity Alert - Ongoing Phishing Campaign

This notification 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 “@finra.eu” and “@finrarec.com”. Samples of both emails are provided in Appendices 1 and 2.

The domains of “finra.eu” and “finrarec.com” are not connected to FINRA, and member firms or their customers may receive similar phishing emails from other domain names in addition to those identified in this Alert.

February 23, 2023
Media Center
Introducing REMA: Thinking Differently About Rulemaking, Decision-Making, Innovation and More
FINRA recently announced the creation of a new team, the Office of Regulatory Economics and Market Analysis, which brings together FINRA's Office of the Chief Economist and the Office of Financial Innovation. On this episode, we talk to three leaders from the new group to hear about its mandate and how the new team works to inform FINRA's regulatory policies and programs to advance its mission of investor protection and market integrity.
February 21, 2023
Media Center
A New Tool for Compliance: FINRA’s Machine-Readable Rulebook Initiative
FINRA's new Machine-Readable Rulebook is designed to enhance firms' compliance efforts, reduce costs and aid in risk management, with a lot to gain for firms of all sizes and various business models. On this episode, we hear what exactly the Machine-Readable Rulebook is, how it works, and how you can start taking advantage of all it has to offer.
February 07, 2023
Media Center
Preparing for the Unexpected: The Ins and Outs and the Value of Succession Planning
Succession planning is important not just for customers and representatives but can even be a matter of life or death when it comes to the continued existence of a firm. On this episode, we hear how and why firms should plan for the expected and unexpected in life.
January 24, 2023
Report / Study
2023 Report on FINRA’s Examination and Risk Monitoring Program
The 2023 Report on FINRA’s Examination and Risk Monitoring Program (the Report) provides member firms with insight into findings from the recent oversight activities of FINRA’s Member Supervision, Market Regulation and Enforcement programs (collectively, regulatory operations programs).
January 10, 2023
Media Center
2023’s Must-Read | Report on FINRA’s Examination and Risk Monitoring Program
The best tool FINRA provides when it comes to firms developing their annual compliance program is now available. On this episode, three Member Supervision senior leaders join us to dig into some of the new and noteworthy regulatory topics in the 2023 Report on FINRA’s Examination and Risk Monitoring Program.
January 10, 2023
Arbitration and Mediation
The Neutral Corner - Volume 4—2022
The Neutral Corner - Volume 4—2022
December 30, 2022
Media Center
Gift Guide for CCOs: Top Five FINRA Compliance Tools and Resources
The festive season is here. Are you looking for the perfect gift for the compliance professional in your life? Look no further. On this episode, we cover the top five FINRA compliance resources, or gifts, for compliance professionals with FINRA's Head of Member Relations and Education.
December 13, 2022
Guidance
FINRA Provides Update on Sweep: Option Account Opening, Supervision and Related Areas

November 2022

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