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
Regulatory Notice 19-23

Summary

FINRA is issuing this Notice to restate and supplement prior guidance regarding the circumstances under which a firm or individual may influence the outcome of an investigation by demonstrating extraordinary cooperation. This Notice incorporates FINRA’s prior guidance and provides clarification and additional information about how FINRA assesses whether a potential respondent’s cooperation is “extraordinary” and distinct from the level of cooperation expected of all member firms and their associated persons. 

July 11, 2019
Podcast
Financial Capability Study, Part I: Does a Rising Tide Lift All Boats?
The gap between the Haves and the Have Nots continues to widen and Americans are failing to save money, struggling with student loan debt and facing decreasing financial literacy, according to the new FINRA Foundation Financial Capability Study. On this, we delve into the study results and their implication.
July 09, 2019
Guidance
Common Cybersecurity Threats

This article highlights some of the common cybersecurity threats faced by broker-dealers. In a number of cases, FINRA has observed that different types of attacks were coordinated and overlapped.

July 09, 2019
Podcast
Encore | How the Cloud and Machine Learning Have Transformed FINRA Market Surveillance
This episode originally aired in July 2018. What do physicists and financial industry regulators have in common? More than you'd think. On this episode, we sit down with Tom Gira, head of FINRA’s Market Regulation and Transparency Services group, to learn not just how the cloud and machine learning have fundamentally improved FINRA's ability to regulate markets, but also what we've been learning from physicists along the way.
June 25, 2019
Podcast
DXT: Transforming the Digital Experience of Firms
FINRA is in the middle of a wide-ranging, multi-year effort to revolutionize the digital experience of FINRA member firms. It’s a transformation driven by firms for firms. On this episode, we learn how the project will simplify the user experience, increase flexibility and automation when it comes to user-defined access to FINRA data and more.
June 11, 2019
Interpretive Letter
Interpretive letter to Jonathan D. Wiley, The Forbes Securities Group
Equity Securities as Compensation for Capital Acquisition Brokers
May 30, 2019
Guidance
Senior Safe Act Fact Sheet

Please download the Senior Safe Act Fact Sheet

May 19, 2019
Podcast
Beyond Hollywood, Part II: AML Priorities and Best Practices
The world of money laundering is a fast-paced and ever evolving, which can make it difficult for a financial firm to develop and maintain a strong anti-money laundering program. On this episode, two FINRA anti-money laundering experts discuss current priorities and best practices when it comes to AML regulation.
May 14, 2019
Podcast
Beyond Hollywood: Money Laundering in the Securities Industry
The only thing many people know about money laundering is what they’ve learned from Hollywood. So if you want to really understand what money laundering is, and more specifically, the efforts brokerage firms must take to prevent and detect it, tune in. On this episode we talk to two of FINRA’s Anti-Money Laundering experts.
April 30, 2019
About FINRA
Report on Use of 2018 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.

April 26, 2019
Podcast
FINRA’s Point Guard: The Central Review Group
The Central Review Group is the nerve center of FINRA’s Office of Fraud Detection and Market Intelligence (OFDMI). On this episode of FINRA Unscripted, we learn how the group combs through tens of thousands of investor complaints, regulatory tips, disclosure events, routine regulatory filings and more every year to look for red flags of fraud or other concerns.
April 02, 2019
FAQ
Frequently Asked Questions Regarding the 529 Plan Share Class Initiative

FINRA is providing these Frequently Asked Questions about its 529 Plan Share Class Initiative (the “Initiative”) in response to a number of inquiries it has received from firms and trade associations. In order to allow firms sufficient time to consider the additional information provided here and to provide firms more time to review their supervisory systems and procedures with respect to 529 plan sales, FINRA is extending the due dates set forth in Regulatory Notice 19-04.

March 05, 2019
Podcast
CRD Transformation: Enhancing the Registration & Disclosure Process
Twenty years after its last major update, FINRA’s Central Registration and Depository (CRD) system, the backbone of BrokerCheck, is getting a facelift. On this episode of FINRA Unscripted, we hear what users can expect from the multi-year CRD transformation process.
March 05, 2019
A Few Minutes With FINRA
A Few Minutes With FINRA: 529 Plan Share Class Initiative - Frequently Asked Questions
In a follow up to a recent episode of A Few Minutes With FINRA, FINRA Executive Vice President of Enforcement Susan Schroeder answers questions FINRA has received from firms in response to its 529 Plan Share Class Initiative. (11 min. 58 sec.)
February 27, 2019
Podcast
A Look at the FINRA Institute at Georgetown CRCP Program
Looking to give your career a shot of the arm? Want understand not just the current regulatory landscape, but also the regulatory trajectory and where things are going? Tune into this episode of FINRA Unscripted to learn what makes the FINRA Institute at Georgetown CRCP program a can’t-miss opportunity.
February 19, 2019
Guidance
CTCI Migration Conference Call
Effective Feb. 3, 2020, FIX will be the only protocol supported for reporting trades to FINRA's TRACE and ORF platforms.
February 13, 2019
Podcast
The Future of RegTech: The Challenges and Opportunities
RegTech tools can present both tremendous opportunities and tremendous challenges for firms and regulators alike. They can also pose some interesting philosophical questions when it comes to their implementation. On this episode, we hear three unique perspectives on these opportunities and challenges from regulators from the U.K., the states and FINRA
February 05, 2019
Interpretive Letter
Interpretive letter to Meredith F. Henning, Foreside
A member firm may include pre-inception index performance data in institutional communications concerning registered open-end investment companies, subject to the stated conditions discussed in the letter.
January 31, 2019
A Few Minutes With FINRA
A Few Minutes With FINRA: 529 Plan Share Class Initiative
Chip Jones and Susan Schroeder discuss the 529 Plan Share Class Initiative. Under the program, firms can self-report to FINRA by April 1, 2019, supervisory violations related to 529 plan share-class recommendations and include a plan to remediate the issue; and in response, FINRA Enforcement will recommend that FINRA accept a settlement that includes restitution for the impact on affected customers and a censure, but no fine. (7 min. 33 sec.)
January 28, 2019
Podcast
The Annual Priorities Letter: A Fresh Take
The Annual FINRA Priorities Letter is a great resource for firms looking to improve their compliance, supervisory and risk management programs. But the 2019 Letter is a little different. Tune into this episode of FINRA Unscripted to learn more about the changes to the letter and to drill into a few key topics.
January 22, 2019
Podcast
Behind the Scenes: FINRA's Board of Governors
Academics, economists, CEOs. FINRA’s Board of Governors is made up of a diverse group of individuals with diverse perspectives—a must for a group responsible for overseeing a complex organization such as FINRA. Learn more about the composition and responsibilities of the Board of Governors on this episode of FINRA Unscripted.
January 08, 2019
Board of Governors Meeting
December 2018 Board Update
Watch the video report featuring highlights from the December 2018 Board of Governors meeting and read FINRA President and CEO Robert Cook’s email to firms.
December 21, 2018
Podcast
Bits & Bytes: A Look at Effective Cybersecurity Practices
Cybersecurity is a major challenge for everyone – but it can be a particularly big challenge for those in the financial industry. That’s why FINRA released a new report highlighting effective cybersecurity practices for FINRA member firms. Learn more in this episode of FINRA Unscripted.
December 20, 2018
A Few Minutes With FINRA
A Few Minutes With FINRA: Report on Selected Cybersecurity Practices – 2018
FINRA’s Senior Vice President of Member Relations and Education Chip Jones, leads a discussion with Chief Information Security Officer John Brady, Senior Director Steve Polansky and Kansas City Surveillance Director Dave Kelley, on FINRA’s 2018 report on selected cybersecurity practices. The discussion includes an overview of the report, which highlights effective practices in five challenging areas that firms should consider to strengthen and further develop their cybersecurity programs—as well as core cybersecurity controls for small firms. (30 min. 17 sec.)
December 20, 2018
Email to Firms
Upcoming Board Meeting
The FINRA Board of Governors meets this week in New York for the final time in 2018. Read President and CEO Robert Cook’s email to firms previewing the agenda.
December 10, 2018