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

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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

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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

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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

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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

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Today's cybersecurity threats aren't isolated incidents—they are sophisticated operations orchestrated by organized criminals and even nation states. This new reality demands we respond not as individual organizations, but as a unified industry with shared intelligence and coordinated defenses. Through FINRA Forward, we are applying this perspective to create practical tools that firms can use to protect themselves and their clients from emerging threats.

On this episode, we explore the topic with Bryan Smith, FINRA’s Senior Vice President of Complex Investigations and Intelligence; Brita Bayatmakou, Vice President of Strategic and Threat Intelligence; and Jason Beachy, Vice President of the Cyber and Analytics Unit. Our guests discuss how FINRA is working to provide firms with the intelligence, preparation, and collaborative tools they need to better protect themselves and their customers in an increasingly complex threat landscape. These efforts include workshops and tabletop exercises, the Cyber and Operational Resilience program, and our forthcoming Financial Intelligence Fusion Center.

Resources mentioned in this episode:

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

Ep. 177: Previewing FINRA’s Crypto and Blockchain Education Program

FIFC Email: fifc@finra.org

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Small firms face unique challenges. The regulatory landscape is evolving rapidly. And the conversation between regulators and the regulated is more important than ever. How does FINRA ensure that small firm voices are heard? How do small firms navigate an increasingly complex environment while serving their clients effectively?

On this episode, we bring you a conversation between FINRA President and CEO Robert Cook and Small Firm Advisory Committee (SFAC) Chair Preston Haxo from FINRA's Small Firm Conference in Dallas on Oct. 9. The two explored the vital role of the SFAC, the ongoing progress of our FINRA Forward initiatives, the practical ways small firms can engage with FINRA, and more.

Resources mentioned in this episode:

FINRA Forward

Small Firm Advisory Committee (SFAC)

FINRA Small Firm Helpline

The Small Firm Briefing

FINRA Crypto and Blockchain Education Program

Reg Notice 25-13: Form U4 Recordkeeping Requirements

Reg Notice 25-07: The Modern Workplace

Reg Notice 25-06: Capital Formation

Reg Notice 25-04: Rule Modernization

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. 177: Previewing FINRA’s Crypto and Blockchain Education Program

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This episode originally aired in January 2025.

Many of us view January as a time to make a fresh start, and as a time to bid farewell to bad habits. In thinking about your New Year's resolutions, have you considered whether you're making financially healthy decisions?

On this episode, we sit down with Gerri Walsh, President of the FINRA Investor Education Foundation and Senior Vice President of Investor Education, to uncover the trends and tips investors need to get their finances in order for 2025.

Resources mentioned in this episode:

BrokerCheck

Market Data Center

Fund Analyzer

Fixed Income Data

FINRA Investor Education Foundation

Protecting Consumers from Fraud

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Subscribe to our show on Apple Podcasts, Google Play and by RSS.