On September 23, FINRA announced the completion of its “One FINRA” reorganization, consolidating member supervision, market oversight, and enforcement functions into a unified Regulatory Operations department. The consolidation, which began at the end of 2025, seeks to make oversight more effective and efficient, reduce complexity, and enhance protections for investors and markets through a more “coordinated, transparent, and effective regulatory program.” The new department includes five oversight functions: (i) risk and intelligence; (ii) examinations; (iii) surveillance; (iv) investigations; and (v) enforcement. FINRA also integrated shared support services across the five functions and merged previously separate investigative teams into a single function, eliminating the need to transfer and restart matters between groups.

FINRA said the structure also responds to member firms’ past experiences with “duplicative or uncoordinated oversight or requests.” FINRA highlighted several tools intended to support member firms’ compliance efforts, including the annual Regulatory Oversight Report, an expansion of the Rapid Remediation program, Threat Intelligence Products, the Cyber and Operational Resilience program, the Financial Intelligence Fusion Center, and free member access to the Financial Crimes and Cybersecurity Conference. FINRA further said it has reduced requests to member firms, in part through a pilot internal library of firms’ written supervisory procedures, and that policy-driven trade blotter requests fell 64 percent, Rule 8210 requests fell 30 percent, and total external data requests fell 12 percent in 2025 compared with 2024.