Member Firms Reelect Curtis, Elect Gettenberg to FINRA Board
Features
- Member Firms Reelect Curtis, Elect Gettenberg to FINRA Board
FINRA announced the results of the Board of Governors elections following last week’s Annual Meeting of member firms. Scott Curtis, Chief Operating Officer of Raymond James Financial, was reelected as a Large Firm Governor, and Jay Gettenberg, CEO and Financial and Operations Principal of ACI Capital Markets, was elected as a Small Firm Governor. Curtis has served as FINRA Board Chair since 2025 and was reelected to that role at last month’s Board meeting.
- Exam Program Enhanced with Greater Transparency and Efficiency
FINRA has introduced changes to give member firms greater insight into the examination process, streamline information requests, and help focus resources on areas of highest risk to investors and markets—all detailed this week in a blog by Jim Reese, FINRA Executive Vice President and Head of Examinations. The updates include advance notice to members of upcoming exam timing, a shift to six-year cycles for certain lower-risk firms, a 12% reduction in external data requests, and a new option to receive preliminary findings in writing throughout the examination process. “These changes better support compliance and focus our resources on the highest risks,” Reese wrote. “The goal: to identify and address issues before they might harm investors, members, or markets.”
- FINRA Foundation Research Shows Gaps in Fraud Awareness
A new report released today by the FINRA Investor Education Foundation reveals troubling knowledge gaps that may leave millions of Americans vulnerable to victimization as financial fraud losses near $200 billion annually. The report, Patterns in Fraud Awareness: What Comes to Mind When Americans Think About Financial Fraud, finds that even the most recognized fraud category—identity-based fraud—was top-of-mind for only half of Americans.
- CE Council Seeks Feedback on Firm Element Training Resources
FINRA’s Continuing Education (CE) Council is conducting its 2026 Firm Element CE Survey, seeking anonymous input from compliance CE administrators on their firm element training programs, as well as their awareness and use of the CE Council website and its resources. The survey will help the CE Council identify gaps in guidance materials and establish benchmarks for evaluating member firm CE programs. Members are encouraged to forward the survey to other CE compliance professionals in their networks. The deadline to complete the survey is 11:59 p.m. ET on Aug. 7. Questions can be directed to [email protected].
Regulatory Reminders
- 2026 Crypto Asset Activities Request: FINRA has requested all member firms respond via FINRA Gateway to an information request about their current and planned crypto asset activities by July 24.
- Amendment to Performance Projections Proposal: On June 30, FINRA responded to comments on our proposal to amend FINRA Rule 2210 (Communications with the Public) and contemporaneously filed a partial amendment to the proposal. Comments on the proposed rule change as amended are due to the SEC by July 28.
- Rule 605 Designated Participant Authorization Form: FINRA launched an updated Rule 605 Designated Participant Authorization Form, enabling members to obtain unique reporter identification codes and provide hyperlinks to their Rule 605 execution quality reports. The new form is available through the FINRA Gateway in advance of amendments to Rule 605 of SEC Regulation NMS and the Rule 605 NMS Plan, effective Aug. 1. All members selecting FINRA as their Designated Participant must submit the new form.
- SEC Requests Comment on Proposed Exemption for Collective Trust Funds: The SEC issued an order on July 9 to institute proceedings to determine whether to approve or disapprove FINRA’s amended proposal to exempt collective trust funds from IPO allocation rules. Comments on the proposal, as amended, are due to the SEC by Aug. 4 and rebuttal comments are due by Aug. 18.
- Rule for Approval of Bulk Investment Adviser Orders: FINRA filed a proposal to eliminate the requirement that late allocations of bulk investment adviser orders be approved by a firm principal. The proposal recognizes the limited utility and operational challenges of obtaining principal approval in today’s automated environment while maintaining important investor protections. Comments on the proposal are due to SEC by Aug. 11.
- FINRA Seeks Comment on Modernizing Communications Rule: FINRA published Regulatory Notice 26-14 on July 9 requesting comment on a proposal to modernize our rules related to communications with the public. Comments are due by Sept. 11.
- TRF Operating Hours: FINRA’s Trade Reporting Facilities (TRFs) will extend their operating hours. Starting Dec. 6, they will operate from 9 p.m. ET on Sundays through 8 p.m. ET on Fridays, with a one-hour technical pause from 8 p.m. to 9 p.m. ET, Mondays through Thursdays, excluding holidays.
- TRACE Transition to Native FIX: FINRA is transitioning from our legacy FIX Protocol platform to a new Native FIX platform for TRACE trade reporting. We anticipate retiring all TRACE legacy FIX reporting late in the fourth quarter.
- FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The July 2026 Monthly Disciplinary Actions are available here.
Education and Compliance Programs
Resources
Member Firm Hub – The latest guidance, resources, educational opportunities and more.
FINRA Forward – An overview of our work in action for becoming more effective and efficient at pursuing our mission is available on FINRA.org. The webpages include information and videos about our efforts to modernize our rules, empower member firm compliance, and combat cyber and fraud threats.
Quarterly Regulatory Policy Agenda – An overview of our current priorities for significant regulatory policy initiatives.
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 – A monthly podcast that discusses a range of topics important to the securities industry.
Investor Insights – Feature articles on timely topics for investors, which firms are welcome to share with customers.
Follow 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
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