# FINRA outside-activity requirements for crypto assets

> FINRA announced on October 26, 2026, that adopted Rule 3290 takes effect on October 25, 2027, according to Regulatory Notice 26-20.

- URL: https://riadefi.com/regulation/2026-10-26-finra-rule-3290-outside-crypto-activities/
- Posture: Final rule
- Authorities: Financial Industry Regulatory Authority
- Event date: 2026-10-26
- Effective: 2027-10-25
- Version: 1, published 2026-10-27 (first published 2026-10-27)
- Advisor-relevant: yes

## What changed

FINRA announced on October 26, 2026, that adopted Rule 3290 takes effect on October 25, 2027, according to Regulatory Notice 26-20. FINRA replaces Rules 3270 and 3280 and expressly includes crypto assets in investment-related activity. Registered persons must give prior written notice of covered outside activities, and associated persons need prior written approval for securities transactions involving selling compensation. FINRA excludes personal investments in non-securities and activity conducted for a member or its affiliate. FINRA treats activity at unaffiliated registered investment advisers as outside activity and requires members to supervise any conditions they impose.

## Who it affects

- FINRA member firms must assess covered outside crypto activities that their registered persons disclose.
- Associated persons conducting outside securities transactions must follow the notice and approval requirements, subject to exclusions.
- Dual registrants conducting advisory activity at unaffiliated registered investment advisers face the treatment in Supplementary Material .03.

## What is still open

- FINRA does not determine whether any particular crypto asset constitutes a security in these materials.
- Members retain discretion to impose broader reporting, approval and supervision requirements.

## What it means for an advisor

- Before October 25, 2027, firms should update questionnaires to identify outside crypto activities and distinguish excluded personal investments.
- Firms should classify crypto securities transactions separately because selling compensation triggers prior written approval and supervision requirements.
- Dual registrants should confirm their broker-dealer's conditions for advisory activity at an unaffiliated registered investment adviser.

## Sources

1. [Regulatory Notice 26-20](https://www.finra.org/rules-guidance/notices/26-20) · Financial Industry Regulatory Authority · 2026-10-26 · effective 2027-10-25
2. [Attachment A](https://www.finra.org/sites/default/files/2026-10/Regulatory-Notice-26-20-Attachment-A.pdf) · Financial Industry Regulatory Authority · 2026-10-26 · effective 2027-10-25


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.