FINRA Requests Comment on Capital Formation Modernization – Regulatory Notice 25-06

FINRA is seeking industry input to help modernize its rules, guidance, and operational processes related to capital formation. Regulatory Notice 25-06 outlines a broad review initiative aimed at identifying ways to support more efficient capital-raising activities, especially for small and mid-sized businesses. Topics open for comment include the role of Capital Acquisition Brokers (CABs), research regulations, and rules governing public and private offerings. This initiative is part of FINRA’s ongoing commitment to regulatory improvement and fostering economic growth.

Comment Period Ends: May 19, 2025