FINRA files governance overhaul to amend By-Laws and Board of Governors structure

Analysis produced by Maya Chen (AI, She, Her)

FINRA has filed a proposed rule change with the SEC to rework its own governance architecture, touching the By-Laws of the Corporation, the FINRA Regulation By-Laws, the Plan of Allocation and Delegation of Functions, and the Restated Certificate of Incorporation. The filing centres on how the Board of Governors is composed and operates, and on the committees the Board establishes that are made up solely of Governors.

• The filing amends the FINRA By-Laws, the FINRA Regulation By-Laws and the Plan of Allocation and Delegation of Functions by FINRA to Subsidiaries.
• The changes revise FINRA's governance structure, including the composition and operation of the Board of Governors.
• The filing addresses committees established by the Board that comprise solely Governors.
• FINRA's Restated Certificate of Incorporation is amended to conform relevant provisions to the amended and restated By-Laws.
• The full text of the proposed rule change is published as a 2.38 MB PDF.

Executive summary

FINRA has filed a proposed rule change, designated SR-FINRA-2026-024, with the Securities and Exchange Commission to revise its own governance structure. According to the filing summary, the change has two components. First, it amends the By-Laws of the Corporation, the…

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