Election Notice - 10/5/2026 | FINRA.org
Election Notice - 10/5/2026

FINRA Announces Upcoming NAC Election and Nomination Process to Fill Small Firm Vacancy

Published Date:
Petition Deadline: November 19, 2026

Summary

The purpose of this Election Notice is to notify members of an upcoming election to fill one small firm seat on the National Adjudicatory Council (NAC) and to announce the start of a 45-day petition period for those interested in becoming candidates. Eligible individuals who submit the required number of valid petitions by November 19, 2026, will be included as candidates on the ballot by following the petition procedures described in this Election Notice.

On or about November 30, 2026, the NAC election will begin and FINRA will post the official Election Notice. Ballots will be sent by mail and voting instructions will be sent by email to the executive representatives1 of all eligible small firm FINRA members. Voting will conclude in December 2026. The term for the newly elected NAC member will begin in January 2027.

Questions regarding this Election Notice may be directed to Jennifer Piorko Mitchell, Senior Vice President and Deputy Corporate Secretary, via email or at (202) 728-8949.

Background

The NAC is appointed by the FINRA Board of Governors to review all disciplinary decisions issued by FINRA hearing panels, and presides over disciplinary matters that have been appealed to or called for review by the NAC. The NAC also reviews statutory disqualification matters, considers appeals of membership proceedings, exercises exemptive authority and acts in other proceedings as set forth in the Code of Procedure.

The NAC comprises 15 members—seven industry members and eight non-industry members. The seven industry members of the NAC include two small firm, one mid-size firm, two large firm and two at-large industry members. Of the eight non-industry NAC members, at least three are public members.

The NAC meets primarily in person four times a year, several weeks prior to each FINRA Board of Governors meeting. NAC members are expected to attend meetings; will be requested to serve on appeal panels, which involves reading the record of the case and attending oral arguments; and are asked occasionally to participate in conference calls to handle other NAC matters. Potential candidates should ensure that their other commitments will allow for their full participation at all NAC meetings. 

The elected individual will serve a four-year term beginning in January 2027 and concluding in December 2030.

Petition Procedures

The FINRA Nominating & Governance Committee determined it would not nominate a candidate for election for the small firm seat. Instead, any eligible individuals who submit the required number of petitions will be included as candidates on the ballot. 

To become a candidate:

  1. Complete a candidate profile form and submit it to FINRA’s Corporate Secretary for a determination that the individual is qualified to serve in the NAC small firm seat. Individuals seeking election as a small firm NAC member must satisfy the firm-size classification on the date the petition is circulated, the date the petitions are certified by the Corporate Secretary and during the election period. Individuals who fail to meet this requirement will be disqualified from election.
     
  2. Submit petitions in support of your nomination to FINRA’s Corporate Secretary by November 19, 2026; petitioners need valid petitions from three percent of FINRA small firms to become a candidate. (As of the close of business on Friday, October 2, 2026, the number of FINRA small firms was 2,868, so the required number of valid petitions to become a candidate is 87.)2
     
  3. The Corporate Secretary will certify the final petition candidates. Petitioners must provide information sufficient for FINRA’s Corporate Secretary to determine that the petitions are duly executed by the executive representatives of the requisite number of small firms. No firm may endorse more than one such candidate per vacancy. If a firm does sign more than one petition for a specific vacancy, the later-signed petition will supersede any previously signed petition. To assist in the process of verifying petitions, FINRA requests that all submitted petitions be dated by their signatory. Petitions must be submitted by November 19, 2026.

Endnotes

1 Pursuant to FINRA Rule 4517, firms must update their contact information promptly, but in any event not later than 30 days following any change in such information, as well as review and, if necessary, update the information within 17 business days after the end of each calendar year. To update an executive representative’s name, mailing address and email address, firms may access the FINRA Contact System, via FINRA Gateway. Additionally, firms must comply with any FINRA request for such information promptly, but in any event not later than 15 days following the request, or such longer period that may be agreed to by FINRA staff. See FINRA Rule 4517.

2 See Article VI, Section 6.2 of the FINRA Regulation By-Laws.