Features Proposal to Adopt FINRA Rule 6152 FINRA has filed with the SEC a proposed rule change to adopt FINRA Rule 6152 (Disclosure of Order Execution Information for NMS Stocks) to require members to submit their order execution reports for NMS stocks to FINRA for publication on the FINRA website. The deadline to submit comments will be 21 days after the date of publication in the Federal Register. ICYMI: FINRA Securities Helpline Marks 10th Anniversary This month, FINRA’s Helpline—an important resource for seniors and other investors that has assisted in recovering more than $9.3 million—turns 10. On the latest episode of the FINRA Unscripted podcast, two leaders from FINRA’s Vulnerable Adults and Seniors team discuss the Helpline's results and provide examples of how the Helpline has become an effective conduit for investor protection. ICYMI: Potential Data Breach of Oracle Cloud A recent Cybersecurity Alert warned member firms of an alleged large-scale data breach possibly affecting Oracle Cloud services at firms and third-party providers. FINRA recommends that firms review this information to assess any potential impact to their operations, as well as with third-party providers. ICYMI: SEC Request for Comment The SEC requests comment on FINRA’s proposed rule change to exempt certain business development companies from FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and from paragraph (b) (Spinning) of FINRA Rule 5131 (New Issue Allocations and Distributions). Comments are due by April 21.
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Guidance, Upcoming Deadlines, Effective Dates |
New - Proposal to Adopt FINRA Rule 6152
See feature above for information regarding the proposed rule change. The deadline to submit comments will be 21 days after the date of publication in the Federal Register.
Reminders 2025 GASB Accounting Support Fee: FINRA is assessing and collecting a total of $17,298,100 to fund the Governmental Accounting Standards Board’s budget by collecting $4,324,525 from member firms each calendar quarter beginning this month. Firms are reminded that if they choose to pass along the fee to customers, they must ensure proper disclosure. SEC Request for Comment: The SEC issued an order on March 10 instituting proceedings to determine whether to approve or disapprove FINRA’s proposed rule change to the Codes of Arbitration Procedure. The rule change would amend certain provisions relating to the arbitrator selection process. Comments were due by April 4 and rebuttal comments are due by April 18. SEC Request for Comment: The SEC issued an order on March 12 instituting proceedings to determine whether to approve or disapprove 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. Comments were due by April 8 and rebuttal comments are due by April 22. Military Spouse Fellowship Application: The FINRA Investor Education Foundation and the Association for Financial Counseling and Planning Education are accepting applications for the 2025 class of FINRA Foundation Military Spouse Fellows, which offers eligible military spouses the opportunity to earn the Accredited Financial Counselor ® (AFC ®) certification. Applicants can apply online until April 15. SEC Request for Comment: The SEC requests comment on FINRA’s proposed rule change to exempt certain business development companies from FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and from paragraph (b) (Spinning) of FINRA Rule 5131 (New Issue Allocations and Distributions). Comments are due by April 21. Comment on Metaverse Report: FINRA seeks comments on its report, “The Metaverse and the Implications for the Securities Industry,” from firms and other market participants until April 25. Amendments to FINRA Rule 3240: Amendments to FINRA Rule 3420 (Borrowing From or Lending to Customers) go into effect April 28 to strengthen the rule’s general prohibition against borrowing or lending arrangements between registered persons and their customers, narrow some exceptions, modernize the “immediate family” definition, and more. Web EFT Retirement: The legacy Web EFT service and all associated XML file upload and download functionality will be completely retired on April 30. Current Web EFT subscribers wishing to continue making automated data transfers with FINRA must have completed transitioning to the FINRA API platform by that date. Please contact FINRA immediately if your firm has questions or concerns about the Web EFT retirement. Request for Comment on Rule Modernization: Regulatory Notice 25-04 requests comment in connection with a broad review of its regulatory requirements applicable to member firms and associated persons. Comments are due by May 12. Request for Comment Regarding Outside Activities Requirements: Regulatory Notice 25-05 requests comment on a proposal to replace two rules— Rule 3270 (Outside Business Activities of Registered Persons) and Rule 3280 (Private Securities Transactions of an Associated Person)—with one rule and is intended to enhance efficiency without compromising protections for investors and members relating to outside activities. Comments are due by May 13. Request for Comment on Capital Formation: FINRA’s recently published Regulatory Notice 25-06 requests comment on modernizing FINRA rules, guidance and processes to further facilitate capital formation and reduce unnecessary regulatory costs and burdens impacting the capital-raising process. Comments are due by May 19.
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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 March 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. |
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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 |
