FINRA Unscripted

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Aug 2026

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FINRA Unscripted is the voice of the nation’s largest non-government securities regulator. We bring together FINRA leaders to discuss existing and emerging regulatory topics that impact the broker-dealer industry. We share best practices for compliance officers, insights into the operations of a 3,500 person self-regulated organization and educational tools and information for investors. Every investor in America relies on one thing: fair financial markets. That is what FINRA works every day to ensure.

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August 4, 202631 min

Inside FINRA's Financial Intelligence Fusion Center

The threats facing the securities industry are evolving fast—and no single firm or regulator has the full picture alone. That's the idea behind FINRA's Financial Intelligence Fusion Center , or FIFC, launched earlier this year as part of the FINRA Forward initiative to strengthen cybersecurity and fraud prevention across the industry. The FIFC is a bi-directional intelligence sharing hub where FINRA and member firms collaborate to protect investors, members, and the integrity of our capital markets. On this episode, David Ring, Senior Director, Strategic & Threat Intelligence, and Kerri Provenza, Senior Director, Member Firm Experience, discuss why the center was created, what's happened since launch, and how members are already benefiting from timely, actionable intelligence tailored to the broker-dealer landscape. They also share early successes, lessons learned, and what's ahead, including how the FIFC is evolving based on direct feedback from member firms. Resources mentioned in this episode: Financial Intelligence Fusion Center FIFC: How To Get Started FINRA Forward FINRA Forward: A Year of Progress Ep. 180: Building Cybersecurity Resilience Through FINRA Forward Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

July 7, 202622 min

How FINRA Turns Member Feedback Into Action

As a self-regulatory organization, FINRA doesn't operate in a vacuum. Our effectiveness depends on understanding what is happening in the industry, hearing directly from our members, and translating that feedback into meaningful action. This engagement is a two-way street, and members might not realize just how many opportunities exist to make their voices heard. On this episode, Kayte Toczylowski, Senior Vice President, Member Firm Experience, discusses the many channels available for members to engage with FINRA, from formal advisory committees to regional representation to CEO roundtables. Learn how member feedback directly shapes our rulemaking process, drives internal improvements, and informs the work we do. Resources mentioned in this episode: FINRA 2026 Involvement and Election Process Overview FINRA Advisory Committees FINRA Indication of Interest Form Webinar: How to Respond to FINRA Requests for Comment Ep. 185: How FINRA Is Streamlining Data Requests Ep. 187: How FINRA Is Enhancing Member Firm Examinations FINRA Forward: A Year of Progress FINRA Forward FINRA Quarterly Regulatory Policy Agenda Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

June 2, 202627 min

Inside FINRA Forward: A Conversation with FINRA Board Chair Scott Curtis

On this episode, tune in to a conversation from FINRA’s 2026 Annual Conference, where FINRA Board Chair Scott Curtis and FINRA President and CEO Robert Cook discussed the partnership between board governance and executive leadership, and the strategic priorities shaping FINRA's direction. Resources mentioned in this episode: Ep. 185: How FINRA Is Streamlining Data Requests Ep. 187: How FINRA Is Enhancing Member Firm Examinations FINRA Forward: A Year of Progress FINRA Forward FINRA Quarterly Regulatory Policy Agenda Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

May 5, 202634 min

How FINRA Is Enhancing Member Firm Examinations

Examinations are a cornerstone of FINRA's regulatory oversight, but how we conduct them is evolving. As part of FINRA Forward, we're making our approach more risk-informed, more efficient, and more transparent. On this episode, J. Koutros, Senior Vice President of Member Supervision, Operations, Procedures, and Standards, Jim Reese, Senior Vice President of Examinations, and John Martino, Vice President of Examinations explore the changes reshaping FINRA's examination program: streamlined first firm exams for lower-risk firms, extended exam cycles where warranted, more targeted data requests, and advance notice about exam timing. The guests also look ahead to new technology, enhanced transparency around preliminary findings, and the ongoing feedback that drives FINRA’s continuous improvement. Resources mentioned in this episode: FINRA Examination and Risk Monitoring Programs Ep. 185: How FINRA is Streamlining Data Requests FINRA Forward: A Year of Progress FINRA Forward FINRA Quarterly Regulatory Policy Agenda Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

April 7, 202623 min

Trading Around the Clock: Inside FINRA's Trade Reporting Enhancements

Every time you check a stock price on your phone or watch a ticker scroll across a screen, you are seeing the result of a complex reporting system most investors never think about. Behind that number is a vast infrastructure capturing and consolidating trades from exchanges and over-the-counter markets in milliseconds—and that system is undergoing major enhancements. On this episode, Chris Stone, FINRA Vice President, Transparency Services, takes us inside the systems that make market transparency possible. Stone explains how FINRA recently extended trade reporting hours to 4 a.m. ET, why the industry is preparing for 23-hour, 5-day-a-week trading by December 2026, and how FINRA’s recently implemented fractional share reporting is eliminating what researchers called "phantom volume." Resources mentioned in this episode: Trade Reporting Facility (TRF) Reg. Notice 25-15: FINRA Adopts Amendments to Extend the Trade Reporting Facilities Operating Hours Trade Reporting Notice 1/14/26: Upcoming Trade Reporting Enhancements for Fractional Share Transactions FINRA Forward Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

March 3, 202634 min

How FINRA Is Streamlining Data Requests

Data is at the heart of everything we do at FINRA—from examining firms to detecting suspicious trading to protecting investors. But the process of requesting, gathering, and analyzing data involves significant effort across the board. So, the question is: How do we work smarter? How do we use technology and collaboration to be more targeted in what we ask for, more efficient in how we use it, and more effective in the oversight we provide? On this episode, Sam Draddy, Senior Vice President of Surveillance and Market Intelligence, and J. Koutros, Senior Vice President of Member Supervision Operations, Procedures, and Standards, explore how FINRA's approach to data requests is evolving. This effort embodies FINRA Forward , our commitment to continuous improvement, regulatory efficiency, and reducing burden while strengthening investor protection and market integrity. Resources mentioned in this episode: FINRA Rule 8210 Electronic Blue Sheets (EBS) FINRA Quarterly Regulatory Policy Agenda FINRA Forward Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Blog Post: A Progress Update on Rule Modernization Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

February 3, 202618 min

Financial Security in 2026: Tips for Investors and How Firms Can Help

Financial security is about more than just building wealth: It's about resilience, preparation, and having the tools to weather whatever comes your way. And right now, with rising costs, market volatility, and evolving fraud risks, investors need that security more than ever. On this episode, FINRA Investor Education Foundation President and Senior Vice President of Investor Education Gerri Walsh discusses what financial security really means in 2026, and how firms can help protect and empower their customers. This conversation sits at the heart of FINRA Forward, our commitment to evolving alongside the rapidly changing securities industry in support of our mission of protecting investors and market integrity. Resources mentioned in this episode: BrokerCheck Market Data Center Fund Analyzer Fixed Income Data FINRA Investor Education Foundation Protecting Consumers from Fraud FINRA Forward Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve Ep. 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial Goals Ep. 183: Investors in the United States: Key Trends and Insights from the National Financial Capability Study Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

January 6, 202637 min

Investors in the United States: Key Trends and Insights from the National Financial Capability Study

The FINRA Investor Education Foundation’s National Financial Capability Study is an expansive source of data and insights about the financial lives of U.S. adults. Conducted every three years, this wide-ranging research effort includes the Investor Survey, an in-depth exploration of the attitudes, behaviors, knowledge and experiences of retail investors across the country. In December, the FINRA Foundation published the latest iteration of the survey, titled "Investors in the United States: Results from the FINRA Foundation’s National Financial Capability Study." Drawing on responses from nearly 3,000 respondents in the U.S. with non-retirement investment accounts, the latest edition builds on previous Investor Survey reports, conducted every three years since 2015. On this episode of FINRA Unscripted, FINRA Foundation President Gerri Walsh, the Foundation's Research Director Gary Mottola, and Senior Researcher Olivia Valdes discuss the study's wide-ranging findings and implications. Resources mentioned in this episode: The National Financial Capability Study (NFCS) Investors in the United States A Report of the National Financial Capability Study State-by-State NFCS Investing Knowledge Quiz Ep. 176: National Financial Capability Study: Key Trends and Insights You Know More Than You Think: Unrealized Knowledge in “Don’t Know” Responses to Financial Knowledge Questions 2026 FINRA Annual Regulatory Oversight Report BrokerCheck Social Media Key Topics Page Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

December 9, 202542 min

Navigating the 2026 Regulatory Oversight Report: Key Insights from FINRA Leadership

The Annual Regulatory Oversight Report is one of FINRA’s most valued resources for member firms—and this year, we're publishing it earlier than ever in response to member feedback. The 2026 Report features insights on cyber-enabled fraud, senior investor protection, generative AI, and much more. It also reflects our FINRA Forward commitment to empowering member firm compliance by sharing intelligence from across our Regulatory Operations. This episode features four FINRA leaders: Ornella Bergeron, Senior Vice President, Risk Monitoring, and Acting Head of Member Supervision; Bill St. Louis, Executive Vice President and Head of Enforcement; Feral Talib, Executive Vice President and Head of Market Oversight; and Bryan Smith, Senior Vice President and Acting Head of Strategic Intelligence. They discuss takeaways from the report, and how firms can leverage its effective practices and research to strengthen their compliance programs. Resources mentioned in this episode: 2026 Regulatory Oversight Report FINRA Forward FINRA Crypto and Blockchain Education Program Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: Vendors, Intelligence Sharing and FINRA’s Mission Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve SEC Regulation Best Interest (Reg BI) 5310. Best Execution and Interpositioning Ep. 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial Goals Ep. 173: Vendor Vigilance: Navigating Third-Party Risk Ep. 177: Previewing FINRA’s Crypto and Blockchain Education Program Ep. 180: Building Cybersecurity Resilience Through FINRA Forward Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .

December 2, 202532 min

Making Your Voice Heard Through FINRA Member Engagement

As a self-regulatory organization, engagement with member firms is vital to FINRA’s success. On this episode, we highlight engagement opportunities, provide insight into how FINRA is listening and taking action on what we're hearing, and encourage even more listeners to get actively involved in FINRA's outreach. FINRA Senior Vice President Kayte Toczylowski is joined by two current FINRA regional committee members: Serving on FINRA's Midwest regional committee, Margaret Dubil, Director of Surveillance for Stifel, Nicolaus & Company, and Stifel Independent Advisors; and serving on the New York regional committee, Peter Garcia, Head of Business Development and Controls at Rabobank and Officer of Rabo Securities USA, Rabobank's U.S. broker- dealer. The two provide firsthand experience on engaging with FINRA. Resources mentioned in this episode: FINRA Forward FINRA Crypto and Blockchain Education Program Blog Post: FINRA Forward’s Rule Modernization—An Update Blog Post: FINRA Forward Initiatives to Support Members, Markets and the Investors They Serve FINRA Conferences and Events 2025 Involvement and Election Process Overview FINRA Engagement Portal FINRA Advisory Committees Find us: LinkedIn / X / YouTube / Facebook / Instagram / E-mail Subscribe to our show on Apple Podcasts , Google Play and by RSS .