FINRA Board of Governors Election

July 16, 2025

Features

FINRA Board of Governors Election
The 2025 Annual Meeting of FINRA members will take place on August 18 to elect one small and one large representative on the FINRA Board of Governors. These Governors play a crucial role in providing the industry’s perspective on important issues before the Board, and we encourage member firms to cast their vote. FINRA will publish a Notice on Friday with details on the candidates and the election process, and firms eligible to vote will also receive an email from FINRA’s Election Agent containing specific voting instructions.
National Financial Capability Study
The FINRA Investor Education Foundation today released the sixth wave of its National Financial Capabilities Study, an expansive source of data and insights about the financial lives of U.S. adults that has been conducted every three years since 2009. The findings reveal an overall pattern of decline in U.S. adults’ ability to make ends meet and save for emergencies in contrast to the broadly positive trends seen from 2009 through 2021. On many measures, middle income groups exhibited similar signs of financial strain as lower income groups, such as struggling to absorb higher food costs and engaging in expensive credit card practices.
New Podcast: A Conversation with FINRA’s Board Chair
The latest episode of the FINRA Unscripted podcast features a conversation with FINRA Board Chair Scott Curtis and FINRA President and CEO Robert Cook from our recent Annual Conference. They discussed timely topics, including outside business activities, the fee rebate to firms, and the FINRA Forward initiative to support members, markets, and investors.
CRCP Small Firm Scholarship Now Accepting Applications
FINRA is offering five scholarships to industry professionals from small firms to attend the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program. The scholarship covers full tuition for the entire program, including room and board. FINRA is accepting applications through August 25. The application, as well as details on the eligibility requirements and selection process, are available here.
Investor Insight on Protecting Older Investors
Fraud involving older investors is a serious and growing problem. A new Investor Insight explains how FINRA rules help to protect older Americans from financial exploitation. Firms are welcome to share it and other Investor Insights with customers.
ICYMI: FINRA Unveils 2025 Industry Snapshot
The 2025 Industry Snapshot, published on July 9, provides a wealth of information about the brokerage industry, including the number of member firms and registered representatives, overall revenues, trading activity, and how firms market their products and services.
ICYMI: FINRA Proposal on Trade Reporting Facilities Operating Hours
Under the proposed rule change, the FINRA/NYSE Trade Reporting Facility, the FINRA/Nasdaq Trade Reporting Facility Carteret, and the FINRA/Nasdaq Trade Reporting Facility Chicago will open at 4 a.m. ET each business day instead of 8 a.m. ET. The new operating hours will be implemented during the first quarter of 2026, and FINRA will provide at least 60 days advance notice.

Regulatory Information, Upcoming Deadlines, Effective Dates

New

No new guidance, upcoming deadlines or effective dates have been announced since the last edition of the Weekly Update.

Reminders

FinCEN Money Laundering Alert: FinCEN updated its June 25 orders prohibiting covered financial institutions from transmitting funds from three Mexico-based entities—CIBanco S.A., Intercam Banco S.A., and Vector Casa de Bolsa, S.A. de C.V. Firms now have until Sept. 4 to implement the orders.
Trade Reporting Facilities: See above feature for details.
The Modern Workplace: Regulatory Notice 25-07 requested comment on further evolving FINRA’s rules, guidance, and processes to reflect modern business practices and markets; support innovation; promote efficiency; and eliminate unnecessary regulatory burdens. Comments were due to FINRA by July 14, but we still welcome feedback.
Rule Modernization: Regulatory Notice 25-04 requested comment in connection with a broad review of FINRA’s regulatory requirements applicable to member firms and associated persons. Comments were due to FINRA by June 11, but we still welcome feedback.
Capital Formation: Regulatory Notice 25-06 requested comment on modernizing FINRA rules, guidance, and processes to further facilitate capital formation and reduce unnecessary regulatory costs and burdens impacting the capital raising process. Comments were due to FINRA by June 18, but we still welcome feedback.

Disciplinary Actions

FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The July 2025 Monthly Disciplinary Actions are available here.

Education and Compliance Programs

Registration Systems Foundation | Aug. 19-20 and Oct. 28-29 | Virtual Event

Registration Systems Foundation | Sept. 16 | Rockville, MD | In-Person Event

Disclosure Reporting Boot Camp | Sept. 17-18 | Rockville, MD | In-Person Event

Small Firm Conference | Oct. 9-10 | Dallas, TX | Hybrid Event

Cyber Crimes Conference | Oct. 28 | Santa Monica, CA | Hybrid Event

Joint Compliance Outreach Program for Municipal Advisors, Dealers, and Other Market Professionals | Hosted by FINRA, the SEC and the MSRB | Nov. 18-19 | Virtual Event

Resources

Member Firm Hub – Latest guidance, resources, educational opportunities and more.

Comment Process – On-demand webinar on how to provide comments on FINRA Forward proposals, as well as the impact of comment letters and how they are used.

Involvement and Election Process – How to engage with FINRA to help carry out our mission of protecting investors and safeguarding market integrity. Members can contribute their unique perspectives and skillsets with rotating terms on FINRA committees and other opportunities. Submit an indication of interest to be considered to join a FINRA advisory committee or speak at a FINRA event by clicking here.

Membership Application Program (MAP) Tools – Guidance and other resources to help current members prepare for their continuing membership application (CMA) and new applicants prepare for a new member application (NMA).

FINRA Unscripted – Monthly podcast on a range of topics important to FINRA members and other stakeholders.

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About FINRA
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business with the public in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.

Regulatory Contacts
FINRA By-Laws require member firms to maintain an email account on behalf of their executive representatives, to facilitate firm notification of important information. In light of this, requests from executive representatives to be removed from this email list cannot be honored.

Firms wishing to change the name or email address of their executive representative or designated assistant should use the FINRA Contact System: http://www.finra.org/FCS.

Subscribers
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