Election Notice – 10/20/26

While this is not a substantive rule change, it matters for small-firm compliance leaders because the SFAC provides a formal channel to raise implementation burdens, supervisory expectations and operational constraints directly into FINRA's policy dialogue. Firms should treat this as a low-urgency but potentially high-value governance opportunity. Eligible small firms that want influence over how FINRA calibrates rules for smaller operations should consider nominating a senior compliance or business principal with direct exposure to FINRA examinations and rule implementation.

The immediate action is governance, not compliance remediation: confirm eligibility, secure internal support, prepare a concise candidate profile demonstrating relevant experience, and submit via email to FINRA's Corporate Secretary by 19 November 2026. Firms not nominating candidates should still monitor the election and subsequent SFAC priorities, as committee output can signal emerging small-firm concerns. No new conduct obligations, reporting requirements or systems changes arise from this notice.

The principal risk is missed influence rather than regulatory breach; the principal opportunity is shaping the small-firm regulatory agenda and gaining visibility with FINRA. Compliance teams should brief their CEO or senior management and decide whether participation aligns with strategic regulatory engagement plans.