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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Targeted Examination Letter
Targeted Examination Letter on Mutual Fund Waivers
In connection with the Mutual Fund Waiver Sweep and pursuant to FINRA Rule 8210, FINRA requests that the Firm provide the following documents and information to FINRA staff on or before June 10, 2016 regarding the above referenced Sweep.
May 16, 2016
Guidance
Michael McGuire, Tradeweb Direct LLC
Based on the information provided in your application, and conditioned upon Tradeweb Direct providing the items listed below, the staff has determined that Tradeweb Direct meets the specified criteria and hereby grants, pursuant to FINRA Rule 9610, Tradeweb Direct an exemption from the trade reporting obligation under FINRA Rule 6730, subject to the monthly transaction reporting obligation and remission of the transaction reporting fees based on the fee schedule set forth in Rule 7730(b)(1) for each exempted sell transaction occurring on the ATS.
May 16, 2016
Video
May 2016 Board Update

FINRA Chairman and CEO Rick Ketchum and Lead Governor Jack Brennan review rulemaking and other issues discussed at FINRA's February Board of Governors meeting. In addition to the video, a summary of the board actions is also available.

May 06, 2016
A Few Minutes With FINRA
A Few Minutes with FINRA: Digital Investment Advice Report
Dan Sibears, FINRA’s Executive Vice President of Regulatory Operations – Shared Services, expands upon the organization’s March 2016 Digital Investment Advice Report.
March 23, 2016
Interpretive Letter
Interpretive Letter to Craig P. Hoffman, Esq., APM, American Retirement Association, Chris DeGrassi, National Tax-deferred Savings Association, and Richard K. Matta, Esq., Groom Law Group
A member firm that provides services to Non-ERISA Plan participants and beneficiaries may rely on the filing exclusions contained in Rule 2210(c)(7)(B) and (C) in preparing and distributing a “Model Disclosure” as described in the letter, subject to the stated conditions and obligations discussed in the letter.
March 22, 2016
FAQ
Frequently Asked Questions about the DR Portal for Arbitrators and Mediators
DR Portal FAQ for Arbitrators and Mediators
March 17, 2016
Targeted Examination Letter
Targeted Examination Letter on Establishing, Communicating and Implementing Cultural Values
Firm culture has a profound influence on how a broker-dealer conducts its business, including how it manages conflicts of interest.
February 18, 2016
A Few Minutes With FINRA
A Few Minutes with FINRA: BrokerCheck Rule 2210
Joe Savage, FINRA Vice President and Counsel – Regulatory Policy, expands upon FINRA Regulatory Notice 15-50, which describes FINRA Rule 2210 requiring firms to include a link to BrokerCheck on their website. He also provides details on several optional BrokerCheck-related tools and resources.
February 04, 2016
FAQ
Frequently Asked Questions about FINRA Rule 5131 (New Issue Allocations and Distributions)
FINRA Rule 5131 (New Issue Allocations and Distributions) addresses potential misconduct in the allocation and distribution of new issues.
January 29, 2016
FAQ
Market Maker Reporting FAQ

The following FAQs are being provided in addition to Q10 - Q21 in Section II of the Data Collection Requirements for Broker-Dealers FAQs published by the Plan Participants on October 12, 2015.

January 14, 2016
FAQ
Tick Size Pilot OATS Data Collection FAQ
Tick Size Pilot OATS Data Collection FAQ
January 12, 2016
Exemptive Letter
Name Not Public
Exemptive relief is denied based on: Firm D was subject to a ban that was discernible via a review of publicly available Forms G-37 which disclosed that a PAC controlled by Firm D or a Firm D MFP made political contributions to the Issuer Officials; Firm D had a long history of making contributions to the Issuer Officials; the ban attached to Firm A upon completion of the acquisition of Firm D; neither Firm A nor Firm D attempted to obtain refunds of the contributions; Firm A’s proposed supervisory systems are not adequate to address regulatory concerns presented.
January 04, 2016
Guidance
Complying With the BrokerCheck Link Requirements in Rule 2210

Effective June 6, 2016, FINRA Rule 2210 (Communications with the Public) requires a firm to include a readily apparent reference and hyperlink to BrokerCheck on the initial Web page that the firm intends to be viewed by retail investors, and any other Web page that includes a professional profile of one or more registered persons, who conduct business with retail investors. A summary of the rule’s requirements is available in Regulatory Notice 15-50.

December 17, 2015
Video
December 2015 Board Update

FINRA Chairman and CEO Rick Ketchum, Lead Governor Jack Brennan and Finance Committee Chairman Jim Weddle review rulemaking and other issues discussed at FINRA's December Board of Governors meeting. In addition to the video, a summary of the board actions is also available.

December 15, 2015
Guidance
Fixed Income Report Cards Demonstration (On Demand)
On this free, on-demand recording of a WebEx presentation, FINRA staff members discuss new and updated fixed income-related Report Cards.
November 25, 2015
Webinar
Webinars

FINRA webinars are free, online video programs delivered right to your desktop. Webinars include panel discussions with FINRA staff and/or industry experts, and feature online resource materials that participants can access from their own computers.

November 18, 2015
FAQ
Frequently Asked Questions for Respondents in FINRA Disciplinary Proceedings

FINRA is committed to ensuring that all respondents are treated fairly in the disciplinary process. Below, you will find brief answers to a number of questions frequently asked by respondents. We hope these answers will be helpful in orienting you to the disciplinary process.

September 18, 2015
Video
September 2015 Board Update Video
FINRA Chairman and CEO Rick Ketchum is joined by lead governor Jack Brennan to review rulemaking and other issues discussed at FINRA's September Board of Governors meeting.
September 17, 2015
FAQ
Web EFT Frequently Asked Questions
Web EFT Frequently Asked Questions
September 11, 2015
Targeted Examination Letter
Targeted Examination Letter on Conflicts of Interest Review - Compensation and Oversight
As referenced in FINRA's Annual Priorities Letter, conflicts of interest represent a recurring challenge that contribute to compliance and supervisory breakdowns which can lead to firms and registered representatives, at times, compromising the quality of service they provide to clients.
August 01, 2015
Video
Small Firm Focus - Get Involved with FINRA Elections, Committees and Comment Letters
From the FINRA 2015 Annual Conference, a panel discussion about ways to get involved via committee service, elections, and comment letters.
July 31, 2015
Video
Get Involved: FINRA Elections, Committees, and Comment Letters
From the FINRA 2015 Annual Conference, a panel discussion about ways to get involved via committee service, elections, and comment letters.
July 24, 2015
Exemptive Letter
Amy Natterson Kroll, Morgan, Lewis & Bockius LLP
The staff granted an exemption from FINRA Rule 5130 with respect to purchases of "new issues" by the Novartis Pension Funds.
July 23, 2015
Get Involved
July 2015 Board Update Video

FINRA Chairman and CEO Rick Ketchum is joined by lead governor Jack Brennan to review rulemaking and other issues discussed at FINRA's July 2015 Board of Governors meeting.


July 09, 2015
FAQ
Frequently Asked Questions on FINRA’s Eligibility Proceedings for Firms Participating in the MCDC Initiative
FINRA has updated the FAQ on the Eligibility Proceedings for Firms Participating in the MCDC Initiative.
July 09, 2015