US Federal

FINRA FAQs on Compliance, Advertising, AML, and Trade Reporting

FINRA has published a collection of Frequently Asked Questions (FAQs) covering various compliance topics, including customer assistance in investigations, 529 Savings Plans, accounts at other broker-dealers, advertising, alternative display facilities, anti-money laundering, arbitration, blue sheets, books and records, breakpoints, broker-dealer registration, recruitment disclosures, BrokerCheck, business continuity planning, and CRD.

FINRA Exemptive Letters List

FINRA has published a list of its exemptive letters, including those related to TRACE ATS Reporting, Municipal Securities, and Initial Public Offerings (IPOs). These letters provide guidance to industry professionals on FINRA's decision-making rationale for specific situations.

FINRA Proposes New Trade Reporting Facility Fees Rule

FINRA has proposed a new rule, FINRA Rule 7660B, to establish fees for FINRA members who do not use the FINRA/NYSE Trade Reporting Facility but purchase specified services. This proposal is open for public comment.

FINRA proposes rule changes for underwriting and private placements

FINRA has proposed rule changes to amend Rules 5110 and 5123 concerning underwriting terms and private placements. The proposed changes aim to clarify valuation methods for underwriting compensation, introduce new exemptions, and expand existing exemptions for certain investors.

FINRA Proposes New Outside Activities Rule, Deletes Old Ones

FINRA has filed a proposed rule change with the SEC to adopt a new Rule 3290 concerning outside activities requirements for registered persons and to delete existing Rules 3270 and 3280. The proposed changes aim to enhance member review of activities with heightened risks while reducing unnecessary burdens.

FINRA Proposes Intraday Margin Standards Replacing Day Trading Rules

FINRA has proposed a rule change to replace its current day trading margin provisions with intraday margin standards. This proposal, SR-FINRA-2025-017, would amend FINRA Rule 4210 and eliminate existing day trading margin requirements. The SEC is currently reviewing the proposal.

FINRA proposes rule change on bona fide market making exception

FINRA has proposed a rule change (SR-FINRA-2025-016) to amend FINRA Rule 6830 concerning data reporting under the Consolidated Audit Trail (CAT). The change aims to align reporting requirements with amendments to the CAT NMS Plan regarding the bona fide market making exception under SEC Regulation SHO.

FINRA Amends Annual Reports Extension Policy

FINRA has amended its Annual Reports Extension of Time Request Policy, updating the information required from firms and their auditors. The updated policy, effective December 29, 2025, streamlines the extension process by modifying auditor representation requirements and shifting certain representations to the firm's Principal Financial Officer.

FINRA Final Statements for Broker-Dealers and Investment Advisers

FINRA has made Final Statements available for broker-dealers and investment adviser firms regarding renewal fees for 2026. Firms must review their statements, reconcile any discrepancies, and remit additional payments by January 23, 2026.

FINRA Seeks Comment on Rule Revisions for Investor Protection

FINRA is seeking public comment on proposed rule revisions aimed at enhancing member firms' ability to protect senior investors from financial exploitation and all investors from fraud. The proposed amendments focus on customer account information and temporary delays for suspected fraud, with a comment deadline of March 9, 2026.