Required Annual Review of Contact Information

January 8, 2025

Features
  • Required Annual Review of Contact Information 
    Firms are required to complete an annual review of their contact information within the first 17 business days of each calendar year. This year, the deadline to complete the review in the FINRA Contact System is Jan. 28. The Contact System can be accessed in FINRA Gateway. As part of this review, firms should review all contacts and update them as needed, per FINRA Rule 4517. 
     
  • New Forms in FINRA Gateway 
    Effective Jan. 17, FINRA will make four new forms available in FINRA Gateway to further streamline the firm form-filing experience. The compliance date for using these forms is March 31. 
     
  • Jan. 9 Contrary Exercise Advice Cut-Off Time 
    The Contrary Exercise Advice—also known as the Expiring Exercise Declaration—cut-off time for options that expire tomorrow (Jan. 9) will be modified due to the national day of mourning, which President Joe Biden declared following the death of former President Jimmy Carter. Option holders will have until 10 a.m. ET on Jan. 9 to decide to exercise an option expiring that day. The Options Clearing Corporation processing timeframes are not changing. 
     
  • New Year’s Resolutions for Smart Investing 
    Listen to the latest episode of the FINRA Unscripted podcast for a preview of the year ahead in investing, including market trends to look out for, tips for getting one’s financial house in order, and tools investors can use to achieve their 2025 goals.
Guidance, Upcoming Deadlines, Effective Dates
New
  • Annual Review of Contact Information: See the entry above for more information on the requirement for firms to complete an annual review of their contact information in the FINRA Contact System by Jan. 28. 
     
  • Four New Forms Available in FINRA Gateway: See the entry above for more information on the new forms now available to further streamline the form-filing experience. The compliance date for using these forms is March 31. 
     
  • Changes to Contrary Exercise Cut-Off Time for Jan. 9: See the entry above about the modified cut-off time for Jan. 9 due to the national day of mourning that President Biden declared following the death of former President Carter.
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Fees: As of Jan. 1, the Historical CAT Cost Recovery Assessment 1 and Prospective CAT Cost Recovery Fee 2024-1 are no longer in effect for transactions in eligible securities executed by FINRA member CAT executing brokers.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. 
     
  • Accelerated Arbitration Proceedings: Firms and other interested parties have until Jan. 16 to submit a comment to the SEC regarding FINRA’s proposed rule change to 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. 
     
  • Arbitrator List Selection: The SEC is requesting comment on FINRA’s proposed rule change to amend the Codes of Arbitration Procedure to make changes to certain provisions relating to arbitrator list selection. Comments are due by Jan. 21. 
     
  • Broker-Dealer and Investment Adviser Renewals for 2025: FINRA issued a Regulatory Notice to help firms review, reconcile, and respond to their final statements in E-Bill. Jan. 24 is the deadline to remit payment for any additional amount owed and to report any discrepancies to FINRA. 
     
  • 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.
Disciplinary Actions
  • 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.
Education and Compliance Programs      
2025 FINRA Annual Conference | May 13-15 | Washington, DC | Hybrid Event
 
Small Firm Conference | Oct. 9-10 | Dallas, TX | Hybrid Event
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.
 
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About FINRA
FINRA 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.
 
Subscribers
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