Small firms are fighting uphill. Every year brings new rules, higher expectations, and fewer hands to keep up when it comes to balancing regulatory compliance. Rising expectations, evolving communication channels, and limited compliance budgets continue to stretch already lean teams. The question isn’t just how to keep up, but how to stay ahead. 

That’s why FINRA’s recent Unscripted podcast episode,  featuring FINRA President and CEO Robert Cook and Small Firm Advisory Committee (SFAC) Chair Preston Haxo,  should strike a chord across the industry. The discussion, which took place the FINRA Small Firm Conference, centered on one them: how regs can better engage with small firms AND support them through modernization.

But let’s be honest: for many small firms, “modernization” still feels like a waiting game.

The Real Disconnect: Talk vs. Tools

In the podcast episode, Haxo didn’t mince words: small firms play by the same complex rulebook as the giants but without the armies of compliance analysts or tech stacks to back them up, stating, “it becomes a numbers game if you only have a couple of people, it’s harder to do those things,” referring to keeping up with keeping up with regulatory change.

And that’s where Cook’s point comes in: the problem isn’t one impossible rule, it’s a hundred small ones piling up.

Cook states that, “many of the burdens firms face aren’t from one big rule, but from the accumulation of little ones. The more we can knock out those little ones, the better off we’ll all be.” 

You know the feeling of stacking expectations and the burden that comes from it - the way daily chores, bills, and errands each take just a few minutes, but somehow fill every hour of the day. Suddenly, you’re wondering if you can skip ironing your shirt because the kids’ lunches still need to be packed, and that 8 am call is fast approaching. It’s like that with compliance, except this time, the stakes involve exams, fines, and reputational risk.

The takeaway? Small firms don’t need fewer expectations; they need smarter systems.Just like Lunchables and wool sweaters that don’t need ironing, sometimes, the answer is to have smarter systems. 

Here at Comma Compliance, that resonates,  because compliance works best when it’s working to decrease the opacity of compliance, not muddy the waters.

From “After the Fact” to “Before It Happens”

Cook broke down FINRA’s Forward priorities:

-Modernize the rules.

-Empower compliance with better tools and clearer guidance.

-Strengthen cybersecurity and fraud prevention.

That middle one? That’s our sweet spot.

At Comma Compliance, we’re building tech that sees around corners. Our platform captures off-channel communications before they become headlines, flags anomalies early, and gives compliance teams the visibility that regulators already expect. 

Because reducing the “compliance burden” doesn’t mean cutting corners.  It means finally having a clear view of the risks in front of you so you can take action on them before they become headlines. 

Technology: The Bridge Between People and FINRA Policy

At one point, Haxo admitted even he sometimes struggles to find the right resources in FINRA’s own ecosystem, “even in my position on the small firm committee, I still at times feel overwhelmed by how many resources there are, and it's difficult to know who best to talk to, where to get information.” If that’s the case for a committee chair, imagine being a one-person compliance team juggling Teams, WhatsApp, and Bloomberg Chat.

That’s where automation and, yes, AI, can make the difference. They don’t replace human judgment - they reduce compliance decision fatigue so when red flags pop up, they’re easier to act on. Technology can help small teams catch what spreadsheets miss, surface the risks buried in inboxes, and stay ahead of the audit curve.

Comma exists for exactly that reason: to catch the off-channel moment before it becomes the compliance story. And we offer more than just catching red flags - with case management built in, you can rest assured you’re not chasing down screenshots minutes before an exam. 

Engagement Is the New Edge

Cook ended with a challenge: stay engaged. Not just through committees or comment letters, but by piloting new tools, sharing insights, and helping shape what’s next. He’s right. The firms that lean in now will lead later; that’s a no-duh moment. Still, for many small firms already stretched thin, engagement can feel like another item on an overflowing checklist

That’s where transparency becomes the real advantage.

When compliance teams have a clear view across channels and systems, they’re not scrambling for the next exam. They’re already ready. FINRA’s Forward initiative signals a more open, tech-enabled era, and tools like Comma’s are built to match that momentum.

Small firms can’t afford to wait for rules to simplify. What they can do is modernize now: automate monitoring, centralize oversight of communications, and use intuitive dashboards that regulators can trust.

When compliance teams can see across channels & systems, they’re not just keeping up; they’re shaping what compliance looks like next,  all while getting their kids lunches safely packed, lunchable or not. 

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To listen to the entire podcast, you can find it on FINRA’s media center here. 

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