The Financial Industry Regulatory Authority (FINRA) is the largest self-regulatory organization (SRO) for securities firms doing business in the United States. FINRA oversees brokerage firms, their branch offices, and registered representatives, and regulates the conduct of its broker-dealer member firms. Section 15A of the Securities Exchange Act of 1934 gives FINRA the authority to discipline its member firms and certain individuals for violations of the securities laws and rules administered by FINRA.

FINRA was created in July 2007 through the consolidation of the National Association of Securities Dealers (NASD) and the member regulation, enforcement, and arbitration functions of the New York Stock Exchange (NYSE).

This Toolkit sets out a variety of resources designed to provide counsel with a basic understanding of FINRA rules applicable to investment banking firms focused on the context of securities offerings, including disclosure and filing obligations as well as related requirements stemming from FINRA rules and regulations.

For resources focused more generally on FINRA's regulation and supervision of broker-dealers, see FINRA Regulation and Supervision Toolkit.