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
Interpretive Letter to T. Douglas Hollowell, UBS Financial Services, Inc.
A member may use negative response letters to effect a bulk transfer of employee equity compensation plan accounts, as directed by an employer.
July 24, 2020
Podcast
Virtual Conference Panels: Fireside Chat on Current Issues

With the cancellation of the 2020 FINRA Annual Conference and other in-person events throughout the year, we’ve gone virtual with a variety of on-demand conference panels on regulatory hot topics.

July 21, 2020
Podcast
Regulation Best Interest: Implementing a New Standard of Conduct
As of June 30, 2020, the U.S. Securities and Exchange Commission’s Regulation Best Interest—or Reg BI—is officially in effect. What does a post implementation-date world look like? And how is FINRA working to ensure a consistent approach to examining around and enforcing the new regulation? Tune in to learn more.
July 07, 2020
Podcast
Protecting the Most Vulnerable: How FINRA Enforcement Prioritizes Senior Investors
You can't talk about investor protection without talking about senior investors. With a substantial increase in recent years in the number of cases involving the exploitation of seniors, FINRA Enforcement has made protecting this segment of the population a priority. On this episode, we hear what FINRA is doing and how firms can work with FINRA in this important effort.
June 23, 2020
Guidance
Interpretive letter to Michael Markunas, B. Riley FBR, Inc. and B. Riley Wealth Management, Inc.

Registered representatives who are not qualified to engage in investment banking activities may, subject to specified conditions, receive transaction-based compensation for referring existing brokerage clients that express an interest in investment banking transactions.

June 16, 2020
Virtual Conference Panel
Social Distancing and the Impact on Older Investors
Today, social distancing is an important component of public health. However the isolation that results has important implications for financial decision making, fraud vulnerability, and cognition among older investors. Join this panel for a discussion of emerging research on these topics and steps you can take to further protect your clients.
June 15, 2020
Report / Study
Artificial Intelligence (AI) in the Securities Industry

Artificial Intelligence (AI) technology is transforming the financial services industry across the globe.

June 10, 2020
Podcast
COVID-19 Task Force: Staying Innovative and Collaborative Through Crisis
The COVID-19 pandemic is unlike any other crisis in recent history, which presents an opportunity to criminals who are flexible and adaptable. That means firms and regulators must be flexible and adaptable too. So FINRA created a COVID-19 Task Force to help FINRA tackle emerging issues to quickly protect investors and our markets.
June 09, 2020
Virtual Conference Panel
Financial Crimes, Trends and Responses – In the Midst of the Pandemic
COVID-19 has altered the world as we know it. While some have responded to it as an incident or singular event, in the world of countering criminal threats we are seeing the need to treat it as a sustained campaign. This panel will discuss the multitude of threats across the financial crimes’ spectrum perpetrated by an aggressive yet flexible adversary.
June 09, 2020
About FINRA
Report on Use of 2019 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 our member firms’ compliance with securities laws and regulations.

June 04, 2020
Podcast
Introducing Greg Ruppert and the National Cause and Financial Crimes Detection Programs
Between the level of interconnectedness on the web and the sheer about of data available, we’re living in an era ripe for the perpetration of financial fraud. That makes it more important than ever for FINRA to have a holistic view of emerging trends and risks—and the ability to coordinate closely with other regulators and law enforcement. FINRA’s new National Cause and Financial Crimes Detection Programs (NCFC) will be the nerve center to do just that.
May 26, 2020
FAQ
Frequently Asked Questions About Advertising Regulation
Frequently asked questions regarding FINRA Rule 2210, filing requirements and the how to use the Advertising Regulation Electronic Filing (AREF) system.
May 20, 2020
Virtual Conference Panel
How to Protect Yourself and Your Firm From Cyberattacks When Working From Home During COVID-19
Join FINRA staff and industry panelists as they provide examples of effective controls and tools their firms have put into place to monitor and address cybersecurity risks.
May 19, 2020
Virtual Conference Panel
Regulation Best Interest: Compliance Inspections and Examinations
Attend this session to hear from OCIE, FINRA staff and industry experts as they discuss how they intend to examine and inspect for compliance with Reg BI, including a discussion of implementation challenges, frequently asked questions, and issues that are being considered.
May 12, 2020
Podcast
FINRA Enforcement: Protecting Investors and Markets in Good Times and Bad
FINRA Enforcement works on the front lines of investor protection—not just now, as some look to take advantage of these uncertain time to defraud investors or manipulate the markets – but always. On this episode, we meet Jessica Hopper, FINRA’s new Head of Enforcement, to hear what her team is doing today to prevent investor harm and to keep our markets fair.
May 12, 2020
Virtual Conference Panel
Regulation Best Interest and Form CRS: Where Are We Now
Join panelists as they discuss Regulation Best Interest and Form CRS, its impact on the industry and effective practices to help broker-dealers manage their obligations.
May 06, 2020
Report / Study
Protecting Senior Investors 2015-2020
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.
April 30, 2020
FAQ
FINRA Gateway Frequently Asked Questions

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:

April 15, 2020
Podcast
Securities Helpline for Seniors: Celebrating 5 Years of Senior Investor Protection
FINRA is committed to the protection of senior investors and other vulnerable adults. That’s why FINRA launched the Securities Helpline for Seniors. On this episode, we hear how the Helpline handles calls, frequent areas of concern and how the Helpline has evolved over the five years since its launch.
April 14, 2020
Guidance
FINRA Highlights Firm Practices from Regulation Best Interest Preparedness Reviews
FINRA is sharing the following common practices we observed while conducting Reg BI preparedness reviews and other ongoing conversations with firms. We hope this helps firms assess their Reg BI initiatives and continue their work preparing for the compliance date.
April 08, 2020
Podcast
Business in the Time of COVID-19: BCPs, Regulatory Relief & More
The new coronavirus that causes COVID-19 has rapidly changed the way U.S. broker-dealers must conduct business as states implement various shelter-in-place and stay-at-home orders, forcing workers remote. On this episode, we talk to FINRA’s Chief Legal Officer and Head of Member Supervision to learn how FINRA is adapting its operations and providing important regulatory relief.
March 31, 2020
Guidance
SEC Guidance and Resources Relevant to Member Firms

SEC's COVID-19 Response page

https://www.sec.gov/sec-coronavirus-covid-19-response

606 Relief

https://www.sec.gov/rules/exorders/2020/34-88478.pdf

March 27, 2020
FAQ
Frequently Asked Questions Related to Regulatory Relief Due to the Coronavirus Pandemic

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.

March 24, 2020
Guidance
Termination of SEC Temporary Exemptive Relief from Fingerprinting Requirements for, Among Others, Members and All of Their Associated Persons; Termination of Additional Temporary Extension of Time for Fingerprinting Under FINRA Rules

On March 20, 2020, the Securities and Exchange Commission (“Commission”) issued an order that, among other things, provided a temporary exemption until May 30, 2020, from the fingerprinting requirements of Securities Exchange Act Rule 17f-2 for FINRA members and transfer agents registered with the Commission (“March 20 Order”).

March 24, 2020
Guidance
Regulatory Operations Update
FINRA remains fully operational during the COVID-19 outbreak through the support of our robust remote work capabilities, and we continue to carry out our regulatory responsibilities of protecting investors and market integrity in these challenging times.
March 23, 2020