Cyber Alert: Phishing Campaign Impersonating FINRA Executives

October 16, 2024

Features
  • Cyber Alert: Phishing Campaign Impersonating FINRA Executives 
    Firms should be aware of fraudulent emails whose senders are impersonating FINRA executives, in some instances containing a PDF attachment. These emails are not from FINRA, and firms should delete them and consider blocking their domains. Read the alert. 
     
  • Research on Common Traits of Fraud Victims 
    Listen to the latest episode of FINRA Unscripted to hear new research about why targets engage with scammers, what makes someone more likely to lose money, and what might stop someone from engaging with a fraud to begin with. The discussion was recorded during a panel at a recent FINRA Foundation conference on disrupting the cycle of financial fraud.
Guidance, Upcoming Deadlines, Effective Dates
New
  • No new information.
Reminders
  • WebEFT Retirement: In response to feedback from members, FINRA has extended WebEFT access until April 30, 2025, for firms that have started their transition from WebEFT to APIs by this Nov. 15. The extension gives those firms additional opportunity to complete the required development to fully onboard to the API platform. WebEFT subscribers not migrating to APIs will no longer have access to WebEFT after Nov. 15, as previously announced. 
     
  • New Form U4 Functionality to Identify RSLs: Firms that have designated a non-registered private residence are required to answer a question on Form U4—the Uniform Application for Securities Industry Registration or Transfer—to identify Residential Supervisory Locations (RSLs) in compliance with amended FINRA Rule 3110.19(d). Those firms now are required to answer the RSL question as either “yes” or “no” by Dec. 26, replacing the previous Oct. 15 deadline. 
    Read the updated the RSL frequently asked questions for additional details. 
     
  • Remote Inspections Pilot Program Year Two Reminder: Firms have until Dec. 27 to opt-in to participate in the second year of the Remote Inspections Pilot Program, which runs Jan. 1, 2025, to Dec. 31, 2025. Read Regulatory Notice 24-02 and frequently asked questions for details. 
     
  • 2025 Regulatory Element Training Topics: Members can preview 2025 Regulatory Element training topics to help prepare for next year’s continuing education requirements. As a reminder, FINRA rules require all registered reps to complete the Regulatory Element annually by Dec. 31 of each year for each registration they hold. Visit the continuing education page and select the appropriate registrations to view the 2025 learning plan for those registrations.
Disciplinary Actions
FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The October 2024 Monthly Disciplinary Actions are available here.
Education and Compliance Programs      
  • Cybersecurity Advisory: Increasing Cybersecurity Risks at Third-Party Providers | Oct. 29 | Virtual Event
  • Protecting Your Customers From Scams and Financial Fraud | Nov. 11 | Virtual Event
  • Insider Threats | Dec. 4 | Virtual Event
2024 FINRA Diversity Leadership Summit | Oct. 30-31 | Virtual Event
 
  • Week II: Capstone | Nov. 17-22 | In-Person Event | Sold Out
  • Week I: Foundation | July 13-18, 2025 | In-Person Event
 
2025 FINRA Annual Conference | May 13-15, 2025 | Washington, DC | 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.
egulatory 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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