In response to feedback from Financial Industry Regulatory Authority members and advisory committees, FINRA has extended the comment period for each of its rule modernization notices by 30 days.
FINRA first announced a comprehensive review of its rules and regulations in March, as reported by AltsWire, with an initial focus on improving the capital-raising process for businesses. As a self-regulatory organization, FINRA aims to modernize its oversight to benefit market participants and the broader economy.
The extensions are as follows:
- The comment period for Regulatory Notice25-04 on modernizing FINRA rules now expires on June 11.
- The comment period for Regulatory Notice 25-06on rules affecting member firms’ support of capital formation now expires on June 18.
- The comment period for Regulatory Notice 25-07on rules impacting member firms’ ability to operate workplaces using modern technology and practices now expires on July 14.
Regarding modernization and as part of the FINRA Forward initiative, FINRA emphasized the need for clear, updated, and tailored regulatory standards for fair competition, client service, risk management, and market confidence.
Through Regulatory Notice 25-04 – stating that rules must be periodically adjusted for market changes – FINRA is continuing to solicit broad feedback from member firms, investors, and others on which parts of its rulebook should be re-examined, including how non-FINRA requirements might interact with its rules.
The other segments of the FINRA Forward initiative focus on methods to empower and support member firm compliance and combatting cybersecurity and fraud risks.
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