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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. 

4 5 A B C D E F G H I L M N O P Q R S T U V
Get Involved
The FINRA Board of Governors meets this week for the first time in 2018. Read President and CEO Robert Cook’s email to firms previewing the agenda.
May 07, 2018
Podcast
Long before transparency was a buzzword, it was central to FINRA’s mission. Transparent markets and educated investors ensure our markets remain strong and public trust in our markets remain high. Today, we sit down with FINRA’s Marcia Asquith, EVP for Board and External Relations, to hear how FINRA is improving transparency not only in financial markets, but also in its own operations.
May 06, 2018
Podcast
Senior investors may have unique needs that elevate the need for expedited attention with securities brokerage concerns. For three years, FINRA’s Securities Helpline for Seniors has been working to address those needs. Here’s how.
May 01, 2018
Report / Study

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We launched FINRA360 in March 2017 with one overarching objective: to ensure that FINRA is operating as the most effective and efficient self-regulatory organization (SRO) we can be.

April 24, 2018
Guidance
2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
April 17, 2018
Media Center
Diversity and inclusion are good for business. The financial services industry may not be known for its diverse workforce or inclusive culture, but FINRA is aiming to change that perception. Hear FINRA leaders share strategies and actions you can take to drive a more diverse and inclusive workplace.
April 17, 2018
Guidance
A member firm may include related performance information in institutional communications concerning variable contracts, subject to the stated conditions discussed in the letter.
April 16, 2018
Guidance
The staff granted an exemption from FINRA Rule 5130 with respect to purchases of “new issues” by the Canada Pension Plan Investment Board.
April 16, 2018
Compliance Tools

Large Options Positions Report (LOPR) – Listed
FINRA is providing Listed LOPR exceptions from FINRA’s Listed LOPR Audit Exception Report. The LOPR Listed report contains three types of exceptions for exchange-traded options: The Effective Date, LOPR Reporting Exceptions and In-Concert Exceptions.

April 11, 2018
Targeted Examination Letter
FINRA’s Member Regulation department is conducting a review with respect to products linked to the CBOE’s Volatility Index (VIX). The review will focus on the supervisory processes followed by firms to identify and mitigate sales practice risks associated with recommendations to non-institutional purchasers of VIX-linked products.
April 09, 2018
Guidance

On May 14, 2018, amendments to FINRA Rule 2232 will take effect, which require a member firm to disclose on the customer confirmation the amount of mark-up or mark-down it applies for certain trades with retail customers in corporate or agency debt securities. Disclosed mark-ups must be calculated consistent with existing Rule 2121.

April 03, 2018
Board of Governors Meeting
Watch the video report featuring highlights of the March 2018 Board of Governors meeting and read FINRA President and CEO Robert Cook’s email to firms.
March 14, 2018
Investor Education
About 70 percent of Americans expect to receive a tax refund this year. If you are one of them, FINRA’s senior vice president of Investor Education Gerri Walsh has some tips on how you can put that cash to work for you.
March 13, 2018
Podcast
From banking and investing to social media and shopping, the internet is an essential part of our daily lives. That means cybersecurity is more important than ever. That is particularly true for FINRA, which can process up to 99 billion records in a single day. Here, John Brady explains how FINRA stays cyber secure.
February 27, 2018
Video
Cybersecurity experts and regulators gathered in New York City on February 22, 2018 to focus on key ways the financial services industry can maintain cybersecurity.
February 26, 2018
Report / Study

Customers who pursue civil remedies or arbitration claims against investment professionals cannot always recover on their judgments or awards. Customers encounter this challenge across the forums in which they may pursue action— whether state or federal court, a dispute resolution forum administered by a regulator, a private arbitration venue, or otherwise — and across the range of financial services they may use.

February 18, 2018
Guidance

Firms and associated persons are required to provide complete, up-to-date and accurate information on registration forms (e.g., Form BD, Form U4, Form U5 and other forms) (“Filings”). Some of the information required to complete these Filings is personal information. Please review the guidance provided on this page on how to protect this information.

January 11, 2018
FAQ
In February 2017, the SEC approved: (1) the adoption of new FINRA Rule 2165 (Financial Exploitation of Specified Adults) to permit members to place temporary holds on disbursements of funds or securities from the accounts of specified customers where there is a reasonable belief of financial exploitation of these customers; and (2) amendments to FINRA Rule 4512 (Customer Account Information) to require members to make reasonable efforts to obtain the name of and contact information for a trusted contact person (“trusted contact”) for a customer’s account. New Rule 2165 and the amendments to Rule 4512 become effective February 5, 2018.
January 03, 2018
Podcast
Can financial mistakes lead to a life of helping others? What should you do before you invest? How can you avoid being scammed? Hear the answers when Gerri Walsh, President of the FINRA Investor Education Foundation, talks with FINRA’s Kenneth Edward Piner about her own financial journey.
December 21, 2017
Guidance

Representations under Rules 5130 and 5131 may be obtained electronically through a mobile application, provided that the method for obtaining representations complies with SEC and FINRA guidance regarding the use of electronic communications, and the representations satisfy the requirements set forth in Rules 5130 and 5131.


December 11, 2017

Lawrence Cohen
Of Counsel
Gordon Rees Scully Mansukhani, LLP
111 W. Monroe Street, Suite 1600
Phoenix, AZ 85003

December 11, 2017
FAQ

1. What’s new?

Beginning with the 2018 program, FINRA is partnering with Georgetown University’s McDonough School of Business to deliver the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program.

2. Why is FINRA making this change?

December 06, 2017
Guidance

Introduction

FINRA’s examination program plays a central role in supporting FINRA’s mission of investor protection and market integrity. A main component of this program is FINRA’s examinations of broker-dealers (“firms” or “members”) that are conducted on a regular cycle basis: each firm is examined at least once every four years, and many are examined even more frequently. In connection with each of these examinations, FINRA prepares a report—which is available only to the relevant firm—addressing certain aspects of the firm’s compliance with securities rules and regulations.

December 06, 2017
2017 Exam Findings Report
Cybersecurity is one of the principal operational risks facing broker-dealers. Recent revelations regarding successful attacks at a number of different entities underscore the need for firms to be vigilant in addressing cybersecurity threats.
December 01, 2017
Guidance
As trading in the U.S. securities markets has become more automated, the potential impact of a trading error or a rapid series of errors—caused by a computer or human error, or a malicious act—has become more severe.
December 01, 2017
Guidance
2017 Report on Examination Findings and Observations
December 01, 2017