So how did member feedback inform the creation of the FIFC?

That's a great question.

The focus of the FIFC is sharing intelligence, sharing information so that we can collaborate on the threats that we see.

Having those different perspectives, the perspectives of member firms, the perspectives of FINRA, the perspectives of other organizations coming together to develop the information, the intelligence, and the work that we need to do to prevent those threats from happening and mitigating them when they do.

is really focused on collaboration.

So we wanted to start from a point of collaboration.

The intent here was not for FINRA to build what we think member firms would find valuable, but rather to work with member firms from the beginning in order to build something that everybody had a part of and everybody was a stakeholder from the beginning.

So more practically speaking, can you walk us through what happens when a firm shares intelligent with the FIFC? How does it become actionable?