FINRA Allows Investment Return Forecasts With Safeguards
Published Date: 7/7/2026
Notice
Summary
FINRA wants to update its rules to let financial firms share predictions about investment returns when talking to the public, but only if they follow certain safety steps. This change affects anyone in the finance world who communicates about investments and aims to make info clearer and more honest. The SEC is reviewing these updates, with decisions and possible money impacts expected soon.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 1 costs, 2 mixed.
Firms May Publish Projected Returns
FINRA would allow member firms to project the performance of a security, portfolio, or investment strategy in public communications if the firm adopts and implements written policies and procedures designed to ensure the communication is relevant to the likely financial situation and investment objectives of the intended audience, and provides information to let that audience understand the criteria, assumptions, risks, and limitations behind the projection.
Removal of Certain Substantiation and Disclosure Rules
FINRA's partial amendment removes the Initial Rule Filing requirement that members have a specific 'reasonable basis' for the criteria and assumptions used in projected returns and retain written records supporting that basis, and it deletes the requirement to expressly disclose whether projections are net of anticipated fees and expenses and to state reasons why a projection might differ from actual performance.
Recordkeeping: Source of Projections Required
Partial Amendment No. 1 would require FINRA members to maintain records that include information concerning the source of any projection of performance or targeted return used in public communications, so firms must retain documentation about where projections came from.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
Previous / Next Documents
Previous: 2026-13712, Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Adoption of Chicago Mercantile Exchange's Rules Governing Security Futures Product Listing Standards, Adoption of Chicago Mercantile Exchange Inc.'s Rules Governing Security Futures Adjustments, and Adoption of Chicago Mercantile Exchange Inc.'s Rules Governing Cash-Settled Single Stock Security Futures
The Chicago Mercantile Exchange (CME) is bringing back and updating rules to list and manage cash-settled single stock security futures, a type of financial product based on individual stocks. This change affects traders and investors by expanding the types of futures they can trade on CME, with new standards to keep things fair and clear. These rules took effect right after filing on June 29, 2026, so the market can start using them immediately.
Next: 2026-13714, Office of the Secretary; Notice of Meeting
The Interagency Autism Coordinating Committee is holding a free, public meeting on July 31, 2026, to talk about autism research and services. You can join in person or online, but if you want to attend in person, you need to register ahead of time. The committee also invites public comments by July 17, giving everyone a chance to share their thoughts and help shape autism support.