2025 FINRA Annual Regulatory Oversight Report
Introduction
The 2025 FINRA Annual Regulatory Oversight Report (the Report) provides FINRA member firms (firms) with insight into findings from FINRA’s regulatory operations programs. The Report reflects FINRA’s commitment to providing transparency to firms and the public about our regulatory observations and activities.
FINRA’s intent is that the Report be an up-to-date, evolving resource or library of information for firms. To that end, the Report builds on the structure and content in prior Reports by adding new topics denoted NEW FOR 2025 and new material (e.g., new findings, effective practices) to existing sections where appropriate. (New material is in bold type.)
This year’s Report addresses a broad range of content, including new topic areas dedicated to:
Additionally, the Report highlights new content on various topics denoted in blue “callout” boxes, including updates on:
- artificial intelligence (AI);
- investment fraud by bad actors that directly targets investors;
- FINRA rules concerning the Remote Inspections Pilot Program and Residential Supervisory Location designation; and
- trade reporting enhancements for fractional share transactions.
Please note that the removal of a topic or content from this year’s Report does not indicate that the topic is not of regulatory importance, and you may continue to review those topics and content in the previous Reports as well as other guidance and tools available on FINRA.org.
Additionally, for each topic area, the Report continues to:
- identify the relevant rule(s);
- summarize noteworthy findings or observations from recent oversight activities;
- outline effective practices that FINRA observed through our oversight activities; and
- provide additional resources that may be helpful to firms in reviewing their supervisory procedures and controls and fulfilling their compliance obligations.
FINRA welcomes feedback on how we can improve future publications of this Report. Please contact the Office of Strategic Engagement to provide recommendations.