News Releases & Statements

Integration of Enforcement Functions Complete; Unified Enforcement Program Key Outcome of FINRA360 WASHINGTON – FINRA announced today the Department of Enforcement’s new structure and senior leadership team.

Board Approves Rule Proposals, Welcomes New Governors and Honors Retiring Governors WASHINGTON—FINRA’s Board of Governors held its third meeting of 2018 on July 18-19 in Washington, D.C., where it approved four rule proposals, welcomed two new Governors and honored two who are stepping down from the Board.

/* /*]]>*/ Cloud Strategy Enables Seamless Processing and Robust Market Surveillance WASHINGTON — FINRA processed an unprecedented amount of market activity through the first six months of 2018, averaging a record 57.9 billion electronic records per day during the period — a 62-percent increase over the average daily volume in 2017.

New FINRA360 Initiative Improves Data Quality for Regulators and Investors, and Lowers Firm Compliance Risks and Costs WASHINGTON—FINRA is launching an enhanced disclosure review process for public financial records of individuals seeking registration with a brokerage firm. Beginning on July 9, FINRA will perform a public records review within 15 calendar days after a firm applies to register an individual with FINRA.

Nagengast Elected to Fill One of Three Large-Firm Seats on FINRA Board WASHINGTON – FINRA announced the results of voting by its large firm members that took place at its Special Meeting on June 28 to elect one Large-Firm Governor to the FINRA Board of Governors. Jim Nagengast, Chief Executive Officer (CEO) of Securities America Financial Corporation Inc. and President of Securities America Inc., was elected as a Large-Firm Governor. 

WASHINGTON — FINRA announced today that a FINRA hearing panel permanently barred broker Bruce Martin Zipper of Miami, FL, for continuing to conduct firm business while serving a three-month suspension. The hearing panel also expelled his firm, Dakota Securities, from FINRA membership for not adequately supervising Zipper, allowing him to associate while suspended (and later while statutorily disqualified) and for falsifying books and records.

New Technology Will Lead to Enhanced Efficiencies and Reduced Compliance Costs for Firms WASHINGTON—FINRA today announced details of a multi-phased effort to overhaul its registration and disclosure programs, including the Central Registration Depository (CRD)—the central licensing and registration system that FINRA operates for the U.S. securities industry and its regulators and that provides the backbone of BrokerCheck.

WASHINGTON – The FINRA Investor Education Foundation (FINRA Foundation) Board of Directors approved initiatives at its June meeting to expand personal finance programs and services for adults and children, and particularly those in underserved communities.

Awards Recognize Research by Undergraduate and Graduate Students in Economics, Psychology, Consumer Sciences and Social Work WASHINGTON – The FINRA Investor Education Foundation (FINRA Foundation) today announced the recipients of two higher-education awards created to recognize outstanding analysis by researchers-in-training using data from the FINRA Foundation’s National Financial Capability Study (NFCS).

Board Approves Rule Proposals and Previews Annual Financial Report WASHINGTON – FINRA’s Board of Governors held its second meeting of 2018 on May 9-10 in New York, where it approved two new rule proposals and previewed a draft of the organization’s Annual Financial Report, which FINRA issues each year to provide transparency into its finances. The 2017 report will be published in June.