Report From FINRA Board of Governors Meeting – March 2023

The Financial Industry Regulatory Authority, FINRA, has published a press release to inform of the outcome on its latest Board Of Governors meeting on March 9 and March 10, 2023. Besides discussing issues such as „FINRA’s recently completed Digital Experience Transformation, a multi-year program that integrated and simplified brokerage firms’ digital interactions with FINRA, facilitating more innovative, efficient and effective compliance programs“ or FINRA’s use of fine moneys from the previous year, the Authority also agreed to propose diverse rule amendments to transpose recent rule changes of the Securities and Exchange Commission (SEC) to shorten the settlement cycle for securities transactions in secondary markets by one day to T+1 (please see EventID 19797 for a detailed description of the SEC rule changes). This proposal entitled „Proposal to Shorten the Securities Settlement Cycle to T+1 Consistent With Recent SEC Rule Changes“ shall soon be published by the Authority.