FINRA created two new advisory committees, reorganized certain existing committees, and >informed members of opportunities to fill vacancies on various councils, boards and committees. According to FINRA, the changes to its committees are being implemented as part of an effort to provide firms with better opportunities to provide input on key issues.
The two new committees are the Clearing Firm Advisory Committee and the Capital Acquisition and Placement Broker Committee. These committees are intended to provide input regarding issues facing small firms with customer accounts that are carried at clearing firms, as well as small firms engaged in capital-raising activities. FINRA will also make several changes to existing committees, including reorganizing the composition of the Membership Committee, disbanding the Independent Dealer / Insurance Affiliate Committee and Regulatory Advisory Committee (as their purposes are being assumed by the Membership Committee), and renaming the Compliance Advisory Committee and Small Firm Advisory Board as the Large Firm Advisory Committee and Small Firm Advisory Committee. FINRA is also proposing to reorganize District Committees into Regional Committees.
FINRA also introduced an online engagement portal for interested persons.
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