The Financial Industry Regulatory Authority (FINRA) has clarified that it is not responsible for Wall Street's push to bring workers and advisors back into the office post-pandemic.

Effective June 1, new FINRA rules will require firms to provide a list of locations, including home offices, where securities-related activities occur. Financial Advisor News reported that a permanent pilot program for remote inspections will begin on July 1. However, FINRA stresses that these rules aim to enhance, not reduce, the ability for broker-dealers and associated persons to work remotely.

FINRA issued a statement correcting misconceptions: "FINRA has seen recent statements from firms stating that new, stringent rules from FINRA will require them to bring their workforce back to the office full time. This is incorrect," the regulator said. "FINRA's new rules for evolving work models—hybrid and remote—provide member firms greater flexibility for their registered persons to work from home."

Member firms have largely supported the new rules. FINRA noted it engaged extensively with various stakeholders, including member firms, and incorporated their feedback into the final rules approved by the Securities and Exchange Commission.

These new rules follow the expiration of temporary COVID-19 relief measures and aim to provide continued flexibility for eligible registered persons to work from home. FINRA informed broker-dealers in January that pandemic-related temporary relief would end on May 30, 2024, one year after the official end of the pandemic.

FINRA also reminded firms that any location where an associated person regularly conducts securities business on behalf of a member firm, including home offices, has always been subject to disclosure, registration, and inspection under its rules and those of other regulators.

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