Guidance

We offer guidance to firms in the form of podcasts, webinars, FAQs, reports, and more. Use the toggle below to find guidance by topic, type or date. 

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Podcast
How the Cloud has Revolutionized FINRA Technology
FINRA now has more than 30 petabytes of data in the cloud—to put that into the context of MP3 music files that would be about 60 million years of easy listening. In this episode, FINRA’s Chief Information Officer Steve Randich joins us to discuss how the use of the cloud has fundamentally changed FINRA’s technology strategy.
July 30, 2018
Compliance Tools
FINRA Small Firm Helpline

A resource where small broker-dealer firms can get help navigating FINRA’s systems and resources.

Call (833) 26-FINRA (833-263-4672)
Monday – Friday
8 a.m. – 6 p.m. Eastern Time

As part of our ongoing efforts to provide support for small firms, and in response to the FINRA Special Notice on Engagement and FINRA360, FINRA developed the Small Firm Helpline to assist broker-dealers that need general help navigating FINRA’s systems and resources.

July 30, 2018
Podcast
How the Cloud and Machine Learning Have Transformed FINRA Market Surveillance
In episode 12 we sat down with Steve Randich and learned how the cloud provides FINRA with the storage space and computing power to process up to 101 billion market events in a single day. Today, we sit down with FINRA’s head of Market Regulation and Transparency Services, Tom Gira, to hear how the cloud and machine learning enable his team to more efficiently and effectively sift through this massive amount of data to detect misconduct.
July 16, 2018
Podcast
What is FINRA’s Dispute Resolution forum?
What is FINRA’s Dispute Resolution forum? How might I end up with a case in arbitration or mediation? What does the process look like? FINRA’s Head of Dispute Resolution, Rick Berry, answers these questions and more in this episode of FINRA Unscripted.
June 19, 2018
Podcast
ERI: Introducing FINRA’s Weatherman
FINRA can’t predict the future, but like a weatherman, it can make predictions based on circumstances that exist today. FINRA’s Office of Emerging Regulatory Issues (ERI) looks to predict what storms may be brewing in the securities market and what areas they are likely to impact.
June 05, 2018
Guidance
Phone-In Workshop and WebEx Presentation Recording: Markup/Markdown Analysis Report
In the near-future, FINRA is introducing a new TRACE Markup/Markdown Analysis Report on the Report Center. The report displays a firm's markup and markdown behavior compared to the industry and provides the underlying details used to calculate the markup or markdown.
May 23, 2018
Media Center
One Enforcement: Introducing FINRA’s New Enforcement Team
Consistency and foreseeability: that’s what any regulator strives for. But when FINRA CEO Robert Cook asked around, he heard that wasn’t always the case—particularly when it came to two different enforcement teams. That’s why FINRA’s Susan Schroeder has taken on the task of bring together these two teams into One Enforcement. Here’s how she’s doing it.
May 21, 2018
Board of Governors Meeting
May 2018 Board Update
FINRA President and CEO Robert Cook, Chairman Bill Heyman, Board members and FINRA staff provide updates on the May 2018 FINRA Board of Governors meeting.
May 17, 2018
Get Involved
Upcoming Board Meeting
The FINRA Board of Governors meets this week for the first time in 2018. Read President and CEO Robert Cook’s email to firms previewing the agenda.
May 07, 2018
Podcast
Building A More Transparent Organization
Long before transparency was a buzzword, it was central to FINRA’s mission. Transparent markets and educated investors ensure our markets remain strong and public trust in our markets remain high. Today, we sit down with FINRA’s Marcia Asquith, EVP for Board and External Relations, to hear how FINRA is improving transparency not only in financial markets, but also in its own operations.
May 06, 2018
Podcast
FINRA’s Senior Helpline: Addressing the Unique Needs of Senior Investors
Senior investors may have unique needs that elevate the need for expedited attention with securities brokerage concerns. For three years, FINRA’s Securities Helpline for Seniors has been working to address those needs. Here’s how.
May 01, 2018
Report / Study
FINRA360 Progress Report

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We launched FINRA360 in March 2017 with one overarching objective: to ensure that FINRA is operating as the most effective and efficient self-regulatory organization (SRO) we can be.

April 24, 2018
Media Center
One FINRA: An Organization’s Commitment to Diversity and Inclusion
Diversity and inclusion are good for business. The financial services industry may not be known for its diverse workforce or inclusive culture, but FINRA is aiming to change that perception. Hear FINRA leaders share strategies and actions you can take to drive a more diverse and inclusive workplace.
April 17, 2018
Guidance
Regulatory Notice 18-12
2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
April 17, 2018
Guidance
Amy Natterson Kroll, Morgan, Lewis & Bockius LLP
The staff granted an exemption from FINRA Rule 5130 with respect to purchases of “new issues” by the Canada Pension Plan Investment Board.
April 16, 2018
Guidance
Interpretive letter to Joan E. Boros, Esq., Stradley Ronon Stevens & Young, LLP
A member firm may include related performance information in institutional communications concerning variable contracts, subject to the stated conditions discussed in the letter.
April 16, 2018
Compliance Tools
Options Report Cards

Large Options Positions Report (LOPR) – Listed
FINRA is providing Listed LOPR exceptions from FINRA’s Listed LOPR Audit Exception Report. The LOPR Listed report contains three types of exceptions for exchange-traded options: The Effective Date, LOPR Reporting Exceptions and In-Concert Exceptions.

April 11, 2018
Targeted Examination Letter
Targeted Examination Letter on VIX-Linked Product Review
FINRA’s Member Regulation department is conducting a review with respect to products linked to the CBOE’s Volatility Index (VIX). The review will focus on the supervisory processes followed by firms to identify and mitigate sales practice risks associated with recommendations to non-institutional purchasers of VIX-linked products.
April 09, 2018
Guidance
TRACE Price on Client Confirmations Policy

On May 14, 2018, amendments to FINRA Rule 2232 will take effect, which require a member firm to disclose on the customer confirmation the amount of mark-up or mark-down it applies for certain trades with retail customers in corporate or agency debt securities. Disclosed mark-ups must be calculated consistent with existing Rule 2121.

April 03, 2018
Board of Governors Meeting
March 2018 Board Update
Watch the video report featuring highlights of the March 2018 Board of Governors meeting and read FINRA President and CEO Robert Cook’s email to firms.
March 14, 2018
Podcast
Combatting Cybersecurity Threats
From banking and investing to social media and shopping, the internet is an essential part of our daily lives. That means cybersecurity is more important than ever. That is particularly true for FINRA, which can process up to 99 billion records in a single day. Here, John Brady explains how FINRA stays cyber secure.
February 27, 2018
Guidance
Cybersecurity Experts Gather for FINRA Conference
Cybersecurity experts and regulators gathered in New York City on February 22, 2018 to focus on key ways the financial services industry can maintain cybersecurity.
February 26, 2018
Report / Study
Discussion Paper – FINRA Perspectives on Customer Recovery

Customers who pursue civil remedies or arbitration claims against investment professionals cannot always recover on their judgments or awards. Customers encounter this challenge across the forums in which they may pursue action— whether state or federal court, a dispute resolution forum administered by a regulator, a private arbitration venue, or otherwise — and across the range of financial services they may use.

February 18, 2018
Podcast
A Touch Point for Politicians and Other Regulators: FINRA’s Office of Government Affairs
We don't get involved in politics or elections, we don't have a PAC, but we do have an office of Government Affairs. In the latest FINRA Unscripted, Greg Dean talks about how his team serve as a touch point for politicians and other state and federal regulators
January 30, 2018
Guidance
Protecting Personal Information in Registration Form Filings

Firms and associated persons are required to provide complete, up-to-date and accurate information on registration forms (e.g., Form BD, Form U4, Form U5 and other forms) (“Filings”). Some of the information required to complete these Filings is personal information. Please review the guidance provided on this page on how to protect this information.

January 11, 2018