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.
A
B
C
D
E
F
G
I
M
N
O
P
R
S
T
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.
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:
In response to the COVID-19 pandemic, many states and localities have issued workplace restrictions as part of their efforts to prevent the spread of the disease. These “shelter-in-place” or “stay-at-home” orders vary in scope and duration, but generally require businesses not considered “essential” to close their physical offices and continue their operations remotely.
Due to the coronavirus pandemic (COVID-19), FINRA is providing temporary relief for member firms from rules and requirements in the Frequently Asked Questions below. The relief provided does not extend beyond the identified rules and requirements. FINRA will continue to monitor the situation to determine whether additional guidance and relief may be appropriate. As coronavirus-related risks decrease, member firms should expect to return to meeting any regulatory obligations for which relief has been provided.
On March 20, 2020, the Securities and Exchange Commission (the Commission) issued an order that, among other things, provides a temporary exemption until May 30, 2020 from the fingerprinting requirements of Securities Exchange Act Rule 17f-2 for FINRA members (the “March 20 Order”). On May 27, 2020, the Commission issued an order extending the temporary exemption until June 30, 2020.
February 2020
Trading & Financial Compliance Examinations (“TFCE”) of the Market Regulation Department (“Market Regulation”) at the Financial Industry Regulatory Authority, Inc. (“FINRA”) is conducting a review of [FIRM] concerning the Firm’s decision not to charge commissions for customer transactions, the impact that not charging commissions has or will have on the Firm’s order routing practices and decisions, and other aspects of the Firm’s business.
Is there a rule that addresses prohibited conditions relating to expungement of customer dispute information?
Yes, FINRA Rule 2081 provides that no member or associated person shall condition or seek to condition settlement of a dispute with a customer on, or to otherwise compensate the customer for, the customer’s agreement to consent to, or not to oppose, the member’s or associated person’s request to expunge customer dispute information from the CRD system.
Does FINRA Rule 2081 apply only to settlements?
Regulatory Obligations
FINRA Rule 4370 (Business Continuity Plans and Emergency Contact Information) requires firms to create and maintain a written BCP with procedures that are reasonably designed to enable firms to meet their obligations to customers, counterparties and other broker-dealers during an emergency or significant business disruption.10 The rule also requires firms to review and update their BCPs, if necessary, in light of changes to firms’ o
Regulatory Obligations
FINRA’s and the Municipal Securities Rulemaking Board’s (MSRB) amendments to FINRA Rule 2232 (Customer Confirmations) and MSRB Rule G-15 require firms to provide additional transaction-related pricing information to retail customers for certain trades in corporate, agency and municipal debt securities (other than municipal fund securities).12
Effective liquidity and credit risk management controls are critical elements in a broker-dealer’s risk management framework, and should be documented in a firm’s books and records.19 FINRA routinely reviews firms’ practices in these areas, and in Regulatory Notice 15-33 (Guidance on Liquidity Risk Management Practices) shared observations on liquidity management practices.