Features |
FINRA CEO Blog Posts
Robert Cook, FINRA President and CEO, has published three blog posts in the last few weeks—one about the Consolidated Audit Trail (CAT), one regarding SEC’s securities lending reporting requirements, and the third about updating Trade Reporting and Compliance Engine (TRACE) reporting timelines:
Cook’s Jan. 17 blog post on CAT states the case that the customer database should be modified to cease collecting personal information about retail investors, and how doing so would promote investor confidence in the security and privacy of their personal information, without compromising the important market oversight capabilities of CAT. In the piece, Cook further describes how regulators could still perform key market oversight functions if investors’ personal information is eliminated from the database. Subsequently, on Feb. 10 the SEC provided exemptive relief from the requirement to report certain personally identifiable information (names, addresses and years of birth) to CAT. In a Jan. 24 blog post on implementing the SEC’s securities lending reporting requirements, Cook discusses FINRA’s work operationalizing the new system under SEC Rule 10c-1a, which requires market participants to report securities lending transactions to FINRA. He explains that he has asked FINRA staff to seek from the SEC an appropriate extension of the Jan. 2, 2026, implementation deadline and details the reasons why. In his most recent blog post on Feb. 5, Cook discusses the SEC approved Amendments to FINRA’s TRACE reporting rules. He writes that in light of questions and concerns that have been raised regarding the Amendments, FINRA staff will work to develop and file substantive changes to the Amendments with the SEC before an effective date is set.
Podcast: Introducing FINRA’s StratIntel Team Listen to the latest episode of the FINRA Unscripted podcast for an introduction to FINRA’s new Strategic Intelligence and Analytics team. They share insights on how the group is evolving FINRA’s approach to intelligence gathering and risk monitoring, and the ways they are using data and analytics to support FINRA’s mission.
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Guidance, Upcoming Deadlines, Effective Dates |
New Reminders 2025 Third-Party Vendor Request: As a reminder, firms are requested to provide FINRA with information about their vendors and banks via the 2025 Third-Party Vendor Request form in FINRA Gateway by Feb. 25. 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. Four New Forms in FINRA Gateway: Visit FINRA’s website for more information about the new forms that are now available in FINRA Gateway. The compliance date for using them is March 31. 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 |
- FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The January 2025 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). FINRA Unscripted – A biweekly podcast that discusses a range of topics important to the securities industry. |
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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
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