FINRA Proposes Restructuring District Committees

FINRA proposed a rule change with the SEC to modify the structure and governance of District Committees to reflect the regions in which FINRA's districts are administratively grouped and managed by FINRA.

FINRA currently has 11 District Committees, which are responsible for:

• serving as panelists in disciplinary proceedings;
• reviewing and recommending policies and rule changes to the FINRA Board of Governors; and
• presenting the goals, purposes and work of FINRA and FINRA Regulation to FINRA Members and others.

Under the proposed revision, the District Committees would be formally reorganized into Regional Committees that would assume the aforementioned responsibilities of the District Committees.