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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. 

A B C D E F G I L M N O P Q R S T V
Video

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
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

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

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
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
September 11, 2015
Targeted Examination Letter
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
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
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
The staff granted an exemption from FINRA Rule 5130 with respect to purchases of "new issues" by the Novartis Pension Funds.
July 23, 2015
FAQ
FINRA has updated the FAQ on the Eligibility Proceedings for Firms Participating in the MCDC Initiative.
July 09, 2015
Get Involved

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
Guidance
Resource Page for the SEC’s July 2013 Financial Responsibility Rule Amendments
June 29, 2015
Interpretive Letter
The use of related performance information in institutional communications, subject to specific conditions, is consistent with the applicable standards of FINRA Rule 2210.
May 12, 2015
Guidance
The staff granted an exemption from FINRA Rule 5131(b) with respect to purchases of “new issues” by the National Railroad Retirement Investment Trust.
May 05, 2015
Guidance

What is a Fast Track Review?


In mid-2013, the Membership Application Program (“MAP”) Group designated a dedicated front-line team of examiners (the “Triage Group”) to conduct an initial assessment of each New Member Application, Continuing Membership Application, Materiality Consultation, Membership Agreement Change and Two Principal Waiver.

May 05, 2015
Investor Education
Maybe you use the services of a securities professional, like a broker or investment adviser, or are thinking about contacting one. Maybe you’ve wondered what it takes to become a securities professional. We’ve put together a list of five things you should know about securities professionals, including who needs to register with FINRA and what it takes to get and maintain a FINRA registration.
February 25, 2015
Interpretive Letter

February 20, 2015

Mr. Gregory J. Nowak
Pepper Hamilton LLP
3000 Two Logan Square
Eighteenth and Arch Streets
Philadelphia, PA 19103-2799

Re: FINRA Rule 5130 - Restrictions on the Purchase and Sale of Initial Equity Public Offerings

Dear Mr. Nowak:

This is in response to your letter dated December 3, 2014, in which you request interpretive guidance on behalf of PCV Lux, SCA ("PCV") regarding the definition of "portfolio manager" under FINRA Rule 5130(i)(10)(D) (Portfolio Managers).

February 20, 2015
FAQ
  1. Q: If I am an existing subscriber or vendor of the SPDS (Structured Products Dissemination Service) will I automatically receive the new ABS data set on June 1, 2015?
    A: Existing subscribers or vendors of SPDS will automatically receive disseminated transactions in publicly traded ABS. No changes to the vendor agreement are required. Please note: Rule 144A ABS transactions will be disseminated over the SPDS144A feed, which requires a subscription to the 144A data set.
February 17, 2015
Guidance

What is a Materiality Consultation?

Pursuant to NASD Rule 1017(a)(5), a member firm that plans to undergo a material change in business operations is required to file a Continuing Membership Application (“CMA”) with FINRA’s Membership Application Program (“MAP”) Group prior to implementing the material change.

February 12, 2015
Exemptive Letter
Exemptive relief is granted based on: representations that at the time of the contribution the individual was not employed by the firm and was not an MFP; the firm already had a significant business relationship with the state of whom the contribution recipient is an issuer official (as defined); the firm has instituted information barriers on certain municipal business communications; the individual will be prohibited from the solicitation of certain new municipal business for a period of time.
February 11, 2015
Report / Study
The Report on Cybersecurity Practices focuses on the types of threats firms face, areas of vulnerabilities in their systems and firms' approaches to managing these threats.
February 03, 2015
Podcast
Computer security experts point out that economic cyber-crime continues to surge. Phishing attacks have increased significantly since they were first discovered in 2005. These scams typically use bogus emails to lure you into giving the scammers your personal information. But you can arm yourself with knowledge. We have three tips to help protect you from cyber criminals looking to steal your money.
December 08, 2014
Interpretive Letter
Direct Participation Programs Representatives are eligible to sell shares of a non-listed business development company that qualifies as a regulated investment company under the Internal Revenue Code at the time of sale.
December 01, 2014
Guidance

FINRA Rule 2360(b)(2) provides that “[t]he position and exercise limits for FLEX Equity Options for members that are not also members of the exchange on which FLEX Equity Options trade shall be the same as the position and exercise limits as applicable to members of the exchange on which such FLEX Equity Options are traded.”

October 29, 2014