Guidance
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Background
Small firms represent a critical portion of FINRA’s membership and often face regulatory challenges that are unique from their large firm counterparts. In an effort to provide additional compliance education and consistent with the FINRA360 goal of being a more effective regulator, FINRA launched The Small Firm Report in April 2018. The Small Firm Report is a free conference call series hosted by senior FINRA leaders who discuss trending topics, new rules and regulatory guidance and best practices, as well as answer questions from participants.
The Contra Executing Firm 20 Minute Compliance report card is a monthly status report that provides information on transactions in which a firm failed, as the Contra Firm to accept / decline / compare trades within 20 minutes after execution, in apparent violation of FINRA Rules 7230A(b) and/or 7330(b).
From cybersecurity to new product review, the FINRA Peer-2-Peer Compliance Library is a one-stop source for templates, checklists and other materials provided by FINRA-registered firms as supplemental resources at FINRA events. Investment professionals can browse the library after logging in with FINRA Gateway credentials. If you have feedback on the Peer-2-Peer Compliance Library, send an email to Member Relations and Education.
The following FAQ is provided to facilitate firms' compliance with FINRA Rules 5190 (Notification Requirements for Offering Participants), 6275 (Withdrawal of Quotations) and 6435 (Withdrawal of Quotations in an OTC Equity Security in Compliance with SEC Regulation M). A comprehensive overview of these rules and related guidance is set forth in Regulatory Notice 08-74 and Regulatory Notice 12-19.
Background
Consistent with the transparency goals of FINRA360, FINRA, for the first time in 2018, published a statistical overview of the broker-dealer industry based on the data it collects in the course of its work. This report, called the FINRA Industry Snapshot 2018 , was the first annual statistical report on the brokerage firms, registered individuals and market activity that FINRA regulates.
The Market Order Timeliness (MOT) Report Card is a monthly status report based upon data reported to OATS detailing the number of customer market orders executed by your firm in NMS securities that were delayed in receiving a full execution in possible violation of both rules regarding full and prompt execution of customer market orders and the Best Execution rule. If non-compliance with these rules is found to exist, your firm may be found to be in violation of FINRA Rules 5310 and 5320.
Overview
FINRA is providing this checklist to help members assess their obligations under the SEC’s Regulation Best Interest (Reg BI) and Form CRS Relationship Summary (Form CRS). The checklist is not a substitute for any rule. Only the rule can provide definitive information regarding its requirements. Interpretive questions should be directed to the SEC, at [email protected].
The MSRB Markup/Markdown Analysis Report is a monthly report designed to assist firms in their supervision activities by providing transparency into a portion of FINRA's surveillance of fixed income transactions' customer pricing.
The MSRB Markup/Markdown Analysis Report is built upon logic developed to pair purchase and sale transactions reported to EMMA.
Q: If a member firm performs securities counts, verifications and comparisons as described in the January 6, 2026, Raymond James No Action Letter (the Letter),* would compliance with all circumstances set forth in the Letter satisfy the requirements of FINRA Rule 4522(b)(1) with respect to capital balance funds, as defined in that Letter?
The Municipal Continuing Disclosure Report displays statistics about transactions that your firm effected with customers. The report provides relevant information about the availability of official statements, annual financial filings, and event filings on the MSRB's Electronic Municipal Market Access system (EMMA) at the time the securities were sold or purchased. Specifically, the report shows counts of transactions with customers for which official statements and/or current annual financial filings were not available on EMMA at the time the transaction occurred.
Background
Examinations are central to FINRA's regulatory operations, and they are one of the principal means by which the organization protects investors and promotes market integrity. FINRA's examinations also aim to provide valuable feedback to firms on areas for improvement and best practices based on insights we have gathered from examining others in the industry.