The Financial Industry Regulatory Authority has published its 2026 Industry Snapshot, an annual report that highlights some of the data collected in the course of the authority’s work analyzing FINRA membership.
The comprehensive report provides aggregate data about the securities industry, including the number of FINRA member firms and registered representatives, firm revenues, and trading activity.
The snapshot is based on data that FINRA collects and maintains through its regulatory oversight of member firms, as well as work done on behalf of the SEC and states. It is conducted each year in an effort to increase public awareness and understanding about the broad range of FINRA-registered firms and individuals
“The FINRA Industry Snapshot underscores our commitment to transparency and public awareness about the firms and professionals we regulate,” said Johnathan Sokobin, FINRA’s Executive Vice President, Chief Economist, and Head of Regulatory Economics and Market Analysis. “This year’s report reflects a securities industry in transition—growing in professionals, a concentration in firms, and evolving in how and when investors trade. These developments, as the industry continues to post strong results, present both opportunities and challenges that merit dialogue among investors, member firms, and market participants.”
The 2026 FINRA Industry Snapshot provides a high-level overview of FINRA membership, ranging from the number of FINRA-registered individuals to the overall revenues of firms, and from trading activity to how firms market their products and services.
All the data are reported in aggregate to respect the confidentiality of regulatory information
FINRA detailed some of the key findings in this year’s snapshot, including the following:
- The profession continues to grow, with registered representatives reaching 639,723 in 2025, a 5% increase since 2021, marking four consecutive years of growth with 40,000-45,000 people entering the industry annually. At the same time, the number of FINRA member firms declined due to ongoing concentration.
- Dual registration is now the predominant model for financial professionals, with more than half of FINRA-registered representatives (331,802) maintaining both broker-dealer and investment adviser registration.
- U.S. stock trading continues to climb, hitting record levels with average daily dollar volume of exchange-listed (NMS) stocks of $828 billion in 2025, up more than a third from 2022. Extended-hours trading also continues to grow, now representing about a fifth of total trading activity.
- Listed options trading surged in 2025 with average daily transactions reaching 8.4 million, up 50% from 5.6 million in 2023. Contracts that expire on the same day, known as zero days to expiration options, accounted for about 30% of all options transactions in 2025.
Hyman Cotter PC offers comprehensive securities law counsel to financial professionals nationwide. Our lawyers have significant regulatory experience and understand the complexities and consequences that a FINRA investigation poses. If you receive a notice of inquiry from a regulator, you should immediately contact our FINRA compliance attorneys at Hyman Cotter PC to schedule a free consultation. We can be reached at (833) 665-0784 or through our online contact form.
