As a part of its FINRA360 review initiative, FINRA is enhancing the organization  of its advisory committees in order to "increase transparency" and "improve effectiveness." FINRA currently has 16 advisory committees that meet periodically and provide feedback on rule proposals, regulatory initiatives and industry issues. Specifically, FINRA is making the following changes:

  • expanding the authority of the Operations Advisory Committee to include providing feedback on the operational and technological implications of rule changes;
  • making the rosters for each advisory committee available online;
  • including further detail in rule filings and notices about the committees that reviewed the proposals; and
  • issuing an annual notice on committees and the application process for committee membership.

FINRA is undertaking a comprehensive review of these committees to evaluate whether further change is necessary.

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