Last modified: November 9, 2023
Acceptance of These Terms
Changes to the FINRA Website
FINRA reserves the right to modify or discontinue the FINRA Website with or without notice to you. FINRA will not be liable to you or any third party should it exercise its right to modify or discontinue the FINRA Website. If you object to any such changes, your sole recourse will be to cease access to the FINRA Website and any content accessed through the FINRA Website.
Copyright, Trademark, and Proprietary
b. The works of authorship contained in the FINRA Website, including, but not limited to, all design, text, sound recordings, and images—are owned, except as otherwise expressly stated, by FINRA and may not be copied, reproduced, transmitted, displayed, performed, distributed, rented, sublicensed, uploaded, posted, framed, altered, stored for subsequent use, or otherwise used in whole or in part in any manner without FINRA's prior written consent, except to the extent that such use constitutes "fair use" under the Copyright Act of 1976 (17 U.S.C. § 107), as amended, and then, only with notices of FINRA's proprietary rights.
c. You may link to the FINRA Website, provided that (i) the appearance, position, and other aspects of the link do not damage or dilute the goodwill associated with FINRA's name and trademarks; (ii) the link and/or website that is being linked does not violate FINRA's or any third party’s intellectual property rights; (iii) no aspect of the link, including the appearance and position of the link, may create the appearance that an entity is associated with or sponsored by FINRA when association or sponsorship does not exist; (iv) the link, when activated by a user, must display the FINRA Website web page in its entirety and not within a "frame" on the linked website; and (v) FINRA reserves the right to revoke its consent to the link at any time in its sole discretion and you shall remove the link within five (5) days. FINRA’s DMCA policy may be found at http://www.finra.org/dmca-policy, which is incorporated herein by reference.
e. The Licensed Marks are trademarks or registered trademarks of Financial Industry Regulatory Authority, Inc., in the U.S. and/or other countries. All other trademarks used on the FINRA website are property of their respective owners. The absence of a name, logo, or other mark on this list does not constitute a waiver of any and all intellectual property rights that FINRA has established in any of its products, services, programs, features, service marks, service names, or logos. Third parties may not use the Licensed Marks without FINRA’s prior written permission. A list of FINRA’s trademarks may be found at http://www.finra.org/trademarks, which is incorporated herein by reference.
In no case may you:
a. decompile, reverse engineer, disassemble, modify, distribute, or create derivative works or improvements from the FINRA Website or any portion thereof, or attempt to discover any source code, protocols, or other trade secrets in the FINRA Website;
b. obtain or attempt to obtain unauthorized access to FINRA’s Website or network;
c. use the FINRA Website in violation of applicable laws or regulations;
e. use any process to monitor or copy the FINRA Website in bulk, or use any data mining, scraping or harvesting tools (including robots), or any similar data-gathering or extraction tools;
f. use any device, software, or routine to bypass any software or hardware that limits the volume or frequency of requests for the FINRA Website;
g. attempt to interfere with the proper working of the FINRA Website, including taking any action that imposes an unreasonable or disproportionately large load on the FINRA Website (including by making voluminous, excessive, or repetitive requests for data) or introduce a virus or other malware to the FINRA Website;
h. alter or modify the content of the FINRA Website;
i. create derivative works or improvements from the FINRA Website;
k. use the FINRA Website or Licensed Marks in a manner that infringes, violates, or misappropriates FINRA’s, its affiliates’, or a third party’s intellectual property rights;
l. use the FINRA Website in any manner that disparages FINRA or is otherwise threatening, vulgar, or inappropriate as FINRA determines, in its sole discretion;
m. use any portion of the FINRA Website in the development of any software program or in conjunction with any machine learning, neural network, deep learning, predictive analytics or other artificial intelligence computer or software program, including, without limitation, by using any portion of the FINRA Website in conjunction with a model, algorithm, or process that is designed to predict trades for or within an individual portfolio, fund, or other investment vehicle;
n. remove, obscure, make illegible, or alter any original copyright or other notices or indications placed on the FINRA Website; or
o. use the FINRA Website for any purposes for which you have not been granted written permission by FINRA.
Disclaimers; Limitation of Liability
a. YOU ACKNOWLEDGE AND AGREE THAT THE FINRA WEBSITE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITH ALL FAULTS, AND THAT YOUR USE OF THE FINRA WEBSITE SHALL BE AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED BY LAW, FINRA, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AFFILIATES, CONTRACTORS, AND LICENSORS (THE “FINRA PARTIES”) DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE FINRA WEBSITE AND YOUR USE THEREOF. FINRA MAKES NO WARRANTIES OR REPRESENTATIONS ABOUT THE QUALITY, TRUTHFULNESS, VALIDITY, ACCURACY, OR COMPLETENESS OF THE FINRA WEBSITE OR ANY THIRD-PARTY WEBSITE AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY: (I) ERRORS OR OMMISSIONS IN ANY CONTENT; (II) TECHNICAL ERRORS AFFECTING THE FINRA WEBSITE IN ANY WAY; (III) BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE WHICH MAY BE TRANSMITTED TO OR THROUGH THE FINRA WEBSITE BY ANY THIRD PARTY; AND/OR (IV) LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE FINRA WEBSITE.
b. NO ADVICE, INFORMATION, OR DATA, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM FINRA OR THROUGH OR FROM USE OF THE FINRA WEBSITE SHALL BE INTENDED TO PROVIDE ANY LEGAL, TAX, INVESTMENT, OR FINANCIAL ADVICE OR TO BE COMPLETE ON ANY SUBJECT MATTER CONTAINED THEREIN.
d. IF ANY PORTION OF THIS LIMITATION OF LIABILITY IS FOUND TO BE INVALID OR UNENFORCEABLE FOR ANY REASON, THEN THE AGGREGATE LIABILITY OF FINRA PARTIES SHALL NOT EXCEED $100.
e. Third-Party Content
(i) S&P Global Ratings are opinions and not recommendations to purchase, hold, or sell securities, and they do not address the market value of securities or their suitability for investment purposes. Ratings should not be relied on as investment advice. Please read important disclaimer information.
(ii) Moody’s ratings and other information (“Moody’s Information”) are proprietary to Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc., and/or their affiliates and licensors (collectively, “Moody’s”) and are protected by copyright and other intellectual property laws. Moody’s Information is licensed to FINRA by Moody’s. View the complete legal terms and conditions governing use of Moody’s Information.
f. Links to Other Sites
The FINRA Website may contain links to websites owned or operated by third parties. If you leave the FINRA Website, FINRA has no control over the contents of any linked website and is not responsible for these websites or their content or availability. FINRA therefore makes no guarantees, representations, or warranties, express or implied, about such linked websites, the third parties they are owned and operated by, the information contained on them, or the suitability or quality of any of their products or services. A link to a third-party website from the FINRA Website does not imply sponsorship, approval, affiliation, or endorsement by FINRA. Your use of links to third-party websites is at your own risk, and FINRA shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to have been caused by, related to, or in connection with any third-party website(s).
Other FINRA Policies and Terms
In the event of any actual or threatened unauthorized use of the FINRA Website, FINRA will be entitled, without waiving any other rights or remedies, to immediate injunctive or equitable relief from a court of competent jurisdiction and may obtain any order restraining any threatened or future unauthorized use or loss in each case, on use of affidavit evidence or otherwise, and without furnishing proof of actual damages or posting a bond or other surety.
Choice of Law