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Regulation and Compliance > Federal Regulation > FINRA

FINRA Seeks Broker-Dealer Comments on Its Programs

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The Financial Industry Regulatory Authority released Tuesday a special notice seeking comments from broker-dealers on how to enhance the self-regulator’s programs for engagement with its members and other stakeholders.

The 30-page notice zeroes in on FINRA’s advisory and ad hoc committees, rulemaking process, member relations programs, and the information it provides regarding its programs and operations.

Robert Cook, FINRA’s CEO, said during a speech in late January that the self-regulator would be asking broker-dealers to weigh in on what changes need to be made to engagement and transparency policies — including how it crafts rules.

“Being an effective self-regulatory organization that protects investors while promoting vibrant capital markets requires that FINRA engage member firms and the public in meaningful dialogue,” Cook said Tuesday in a statement announcing the notice. “FINRA invests significant resources in its current engagement programs, and we are exploring how these programs can be made more effective without compromising our regulatory responsibilities. Requesting comment is an important part of that evaluation.”

The notice — which is part of an initiative dubbed FINRA360 — requests comment on potential enhancements to an extensive list of programs by May 5.

The FINRA360 initiative, which Cook referred to in a speech on Jan. 10, is the self-regulator’s program to conduct a comprehensive review of its operations and programs.

More information regarding the initiative will be shared in the coming months, FINRA said. 


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