FINRA Board Meeting Update

2025 Renewals Program: Preliminary Statement payments were due on Dec. 9. As a reminder, the CRD/IARD system shuts down for the year at 6 p.m. ET on Dec. 26. Before the shutdown occurs, firms should submit their registration filings, finalize any E-Bill renewal payments or transactions, and print and/or save renewal reports in CRD/IARD. Final statements will become available on Jan. 2. 
 

National Adjudicatory Council (NAC) Call for Candidates: Firms will soon have the opportunity to vote to fill one large firm and one small firm seat on the NAC, choosing from either the FINRA Nominating Committee nominee for each seat or from candidates who satisfy the requirements to be added to the ballot. Anyone interested in becoming a candidate must first submit a completed candidate profile form to FINRA’s Corporate Secretary and then submit by Dec. 23 the required number of petitions in support of his or her nomination. 
 

Identify RSLs on Form U4: FINRA recently published three new video guides to assist firms with responses to the Residential Supervisory Location (RSL) question on Form U4 for all associated persons with an office-of-employment address reported as both a ”non-registered” (i.e., non-branch) location and a private residence for all locations established before Nov. 26 of this year. As a reminder, the due date for those firms to respond is Dec. 26. Visit the RSL Guidance page to watch the videos and for other resources. 
 

Remote Inspections Pilot Program Year Two: Firms have until Dec. 27 to opt in to participate in the second year of the Remote Inspections Pilot Program, which runs Jan. 1 to Dec. 31. For more information, read Regulatory Notice 24-02 and the frequently asked questions. 
 

FDIC Rule Amendments: Any member that markets or offers a bank sweep program, sells certificates of deposit, or otherwise makes statements about FDIC insurance should review the FDIC’s amended rules about false advertising, misrepresentation of insured status, and misuse of the FDIC's name or logo, and make any adjustments to materials by the Jan. 1 compliance date. See the Code of Federal Regulations and the Federal Register for more information. 
 

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. 
 

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.