On October 24, 2024, FINRA's Office of Financial Innovation
published its metaverse report as "an initial step in
beginning an important dialogue with market participants about
potential use of the metaverse within the securities
industry." FINRA regulates US broker-dealers and provides
various related services within the securities industry. The report
gives an overview of how developments related to the metaverse may
affect brokers' business models and processes and explores
various related issues.
FINRA's metaverse report touches on potential use cases of
the metaverse across data visualization, virtual trading, payments,
training, investor education, solicitation and customer service,
and even firms employing "digital twins" (i.e., the
digital representation of physical objects) to model office space
needs, run test case scenarios, and enhance situational awareness.
On the flip side, FINRA identifies potential challenges with
firms' use of the metaverse,
