Features |
- 2025 Renewals Program: Final Statements Available in E-Bill
FINRA issued a Regulatory Notice to help firms review, reconcile and respond to their final statements in E-Bill. As a reminder, Jan. 24 is the deadline to remit payment for any additional amount owed and to report any discrepancies to FINRA.
- FINRA Announces Election Results and Appointments
FINRA’s Small Firm Advisory Committee (SFAC), Regional Committees and National Adjudicatory Council (NAC) have several new members as a result of recent elections and appointments. Read the Election Notice for details. FINRA will soon hold another election to fill one small firm seat and one large firm seat on the NAC.
- Updated Guidance for Unexpected Market Closures
Members should be aware of updated guidance on how to handle certain regulatory requirements in the event of an unexpected market closure, such as on a national day of mourning declared by the U.S. President. On Dec. 30, President Joe Biden declared Jan. 9 a national day of mourning following the death of former President Jimmy Carter.
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Guidance, Upcoming Deadlines, Effective Dates |
New - Final Statements Available in E-Bill: See the entry above about the Jan. 24 deadline to remit payment for any additional amounts owed and to report any discrepancies to FINRA as part of the renewals program.
- SEC Requests for Comment
- Accelerated Arbitration Proceedings: FINRA’s proposed rule change would amend the Codes of Arbitration Procedure to add new rules to accelerate the processing of arbitration proceedings for parties who qualify based on their age or health condition. Comments are due by Jan. 16.
- Arbitrator List Selection: FINRA’s proposed rule change would amend the Codes of Arbitration Procedure to make changes to certain provisions relating to arbitrator list selection. Comments are due by Jan. 21.
Reminders - Consolidated Audit Trail (CAT) Fees: As of Jan. 1, the Historical CAT Cost Recovery Assessment 1 and Prospective CAT Cost Recovery Fee 2024-1 are no longer in effect for transactions in eligible securities executed by FINRA member CAT executing brokers. Also beginning Jan. 1, a new Prospective CAT Cost Recovery Fee—Prospective CAT Cost Recovery Fee 2025-1—is applied to members executing brokers' transactions.
- 2025 and Q1 2026 Reports Filing Due Dates: Upcoming due dates have been announced for filings related to the Annual Report, Financial and Operational Combined Uniform Single (FOCUS), Form Custody and supplemental FOCUS Report The first is Jan. 27. These filings must be submitted electronically through FINRA Gateway.
- Comment on FINRA Requirements Governing Day Trading: FINRA is requesting comments from registered representatives, investors and other stakeholders on its requirements related to day trading. The request is part of FINRA's retrospective rule review to assess the effectiveness and efficiency of those requirements. The comment period ends Jan. 28.
- Rule Amendments Regarding Arbitration Document Production Lists: FINRA amended its Code of Arbitration Procedure for Customer Disputes to allow customers to decide whether to use Document Production Lists in “paper cases” (i.e., those without a hearing) and special proceedings. The amendments go into effect for arbitration cases filed on or after March 3 of this year.
- Comment on Proposed Changes to Corporate Financing: Members and other stakeholders have until March 20 to comment on proposed amendments to FINRA Rules 5110 (Corporate Financing Rule—Underwriting Terms and Arrangements), 5121 (Public Offerings of Securities With Conflicts of Interest) and 5123 (Private Placements of Securities) that would make substantive, organizational and terminology changes.
- Amendments to FINRA Rule 3240: Updates to FINRA’s Borrowing From or Lending to Customers Rule go into effect April 28 to strengthen the general prohibition against borrowing and lending arrangements between registered representatives and their customers, narrow some exceptions, modernize the “immediate family” definition, and more.
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Disciplinary Actions |
- ICYMI: FINRA ordered three firms to pay more than $8.2 million in restitution to customers who were harmed by the firms’ failures to provide available mutual fund sales charge waivers and fee rebates on mutual fund purchases. FINRA did not impose any fines in connection with these matters in recognition of each firms’ extraordinary cooperation with FINRA’s investigations. Read the press release.
- FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The December 2024 Monthly Disciplinary Actions are available here.
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Education and Compliance Programs |
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Resources |
Member Firm Hub – The latest guidance, resources, educational opportunities and more. Membership Application Program (MAP) Tools – Guidance and other resources to help current members prepare for their continuing membership application (CMA) and new applicants prepare for a new member application (NMA). FINRA101 – An investor-focused video series firms can leverage to help customers avoid scams, understand trusted contacts and more. FINRA Unscripted – A biweekly podcast that discusses a range of topics important to the securities industry. |
Follow FINRA |
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About FINRAFINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business with the public in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org. |
Regulatory Contacts
FINRA By-Laws require member firms to maintain an email account on behalf of their executive representatives, to facilitate firm notification of important information. In light of this, requests from executive representatives to be removed from this email list cannot be honored. Firms wishing to change the name or email address of their executive representative or designated assistant should use the FINRA Contact System: http://www.finra.org/FCS. SubscribersYou received this message because you are currently subscribed to the email subscription list on the FINRA website. To update, use our "update information" or "unsubscribe" forms located at http://www.finra.org/Industry/Subscriptions |
