May 2024 Board Meeting

May 17, 2024

The FINRA Board of Governors held its second meeting of the year last week, and I am pleased to share some updates from the meeting.

The Board continued discussions around FINRA’s long-term financial planning and approved FINRA’s 2023 Annual Financial Report, which we publish each year in accordance with U.S. generally accepted accounting principles to describe how we manage our finances in support of our mission. The report is one aspect of our financial transparency, which also includes the posting of our Financial Guiding Principles, the release of our Annual Budget Summary, and the publishing of the annual Report on the Use of FINRA's Fine Monies, approved in March. We expect to release the Fines Report and the Annual Financial Report in the coming weeks.

The FINRA Board received several operational updates, including on FINRA’s enterprise risk management and cybersecurity programs. In addition, staff presented the latest on FINRA’s Advanced Analytics Strategic Initiative, which the Board had approved in 2021 to enhance the tools and techniques FINRA utilizes to process data from regulatory and public sources, allowing us to identify potential misconduct more quickly, thus strengthening our ability to mitigate customer harm. 

In addition, the Board appointed new members to FINRA’s Advisory Committees, effective on June 1. FINRA Advisory Committee members serve on rolling three-year terms to facilitate greater opportunities for those who are interested in serving. As a reminder, we encourage anyone who wishes to be considered for future Advisory Committee vacancies to submit an indication of interest using FINRA’s engagement portal.

Finally, in continuation of our engagement with key stakeholders, the FINRA Board met with SEC Commissioner Mark Uyeda for a discussion that covered his priorities and perspectives regarding issues impacting the broker-dealer industry.

Our next meeting is scheduled for July 24-25. More information about the Board's operations, including membership and responsibilities of its committees, is available at www.finra.org/governance. 

Sincerely,

Robert W. Cook
FINRA CEO