FINRA Plans More Remote Work Rules

The Financial Industry Regulatory Authority is planning more remote work rules as well as an update to its outside business activity rule, Robert Cook, CEO of the Financial Industry Regulatory Authority, said Tuesday.

Speaking at FINRA’s annual conference in Washington, D.C., Cook reiterated the broker-dealer self-regulator’s continued efforts to revamp its rulebook “to reflect” the new post-pandemic workplace.

He noted two proposals — on branch office inspections and remote inspections — with “hopefully more to come.”

The new plan, which FINRA is preparing to file with the Securities and Exchange Commission soon, would pertain to the suppression of private residence address information on BrokerCheck.

“This proposal would suppress disclosure of the street address of a registered branch office that is identified to FINRA as a private residence, which is consistent with what happens on the IA side,” a FINRA spokesperson said.

Other rules that need updating, Cook said Tuesday, include the outside business activity rule. The goal is to “provide some more clarity and focus on areas that really need to be reported,” Cook said.