The Financial Industry Regulatory Authority said Monday that it has launched a Small Firm Helpline as part of the self-regulator’s continuing efforts to enhance its support for small firms.
Approximately 3,400 small firms are registered with FINRA, employing 150 or fewer registered representatives.
The toll-free helpline, staffed by FINRA employees, will operate 9 a.m. to 5 p.m. eastern standard time and was created under the FINRA360 organizational review launched by FINRA CEO Robert Cook in 2017.
“One of the real benefits of our role as a self-regulatory organization is our ability to provide firms with the tools and resources to help them comply with regulations – and this new resource is aimed squarely at doing that,” Cook said in a Monday statement.
The helpline, Cook continued, “will serve as the clearinghouse for more routine calls and general information, which will make it faster and easier for small firms to get answers, and will free up other critical FINRA resources to help firms with more substantive matters such as examinations, financial questions, the implementation of rules and licensing requirements.”