CRD Frequently Asked Questions

Form Filing for Firms

 

How do I submit form filings to Web CRD?

 

Upon completion of a filing, select the "Submit to CRD" link. By selecting the "Submit to CRD" link, a completeness check will automatically run. If the completeness check is successful, a "Submit the Filing" button will be displayed. It is very important to select this button to actually submit the filing to Web CRD. Once this button has been selected and the completeness check is successful, a message will be displayed that the filing has been Successfully Queued for Submission. At this time an "OK" button will be displayed. You may select this "OK" button to return to the Form Filing application or you may navigate anywhere in the system.

 

How long does a filing remain "pending" in Web CRD?

 

Your "pending" U4, U5, BDW and U6 filings will remain "pending" in Web CRD for a period of two (2) months and your "pending" BD filings will remain for six (6) months. If they are not submitted during that timeframe, the system will automatically delete them after they reach their expiration date. It is important to review your Pending Filing Queue on a regular basis to insure that pending filings are completed and submitted within a two month period of time from the date of creation. This will insure that all pending filings that you wish to submit are not systematically deleted as a result of their two-month "pending" filing status. You can retrieve your pending filings by clicking on the FORMS Menu Item, selecting a filing type sub menu item(U4, U5, BD, BDW or U6) and then clicking on the PENDING Tab. Using the "Pending Filings Search Criteria" Screen, you can sort by Filing Creation Date in either Ascending or Descending order. You should review the filings whose Creation Dates are nearing their two-month expiration date in order to identify those that you wish to submit.

 

Where can I find the Web CRD "picklists" for the Uniform Registration Forms?

 

The picklists for the Uniform Registration Forms are on the CRD Page of the FINRA Web site.

 

Should titles (i.e., Mr., Ms., etc.) be captured in any of the name fields on the Uniform Forms?

 

When creating an individual and inputting the individual's name, DO NOT use titles such as Mr., Mrs., Ms., etc., in any of the name fields. As Web CRD cannot perform a completeness check on these fields since they are free text fields, the titles are stored as part of the name itself, which can prevent or delay a match when a name search is performed.

 

How do I go about changing my firm's name?

 

Section 1D of Form BD, Application Information, is for firms that are changing names, and it says check the box for Applicant Name (1A) or Business Name (1C). In most cases, firms are changing both, in which case they should select both boxes. Reminder that firms must get a "name approval" from the Disclosure Review Unit before filing the name change amendment. Also, the firms will not see the name change in CRD immediately - there's a 10-day "grace period" after the name change amendment is submitted during which FINRA notifies the jurisdiction of the impending change.

  

Is it possible to post-date the opening of new branch offices?

 

No, new branch offices that are opening cannot be post-dated. Firms must wait until the day the branch opens to submit the BD Amendment.

 

How do I remove a person from Schedule A or B?

 

The first sentence that will appear on an existing control person's record is: "Check here to terminate this Owner." To remove a person from Schedule A or B, check the Check Box next to this sentence and click Save to submit the change. Keep in mind that there must be at least one direct owner on Schedule A at all times.

 

Whom do I need to list on a Schedule B as an Indirect Owner?

 

Schedule B Indirect Owners are only owners in respect to owners listed on Schedule A, so a person or entity listed on Schedule B should own/control at least 25% of a corporation/company/etc listed on Schedule A.

 

Does a trustee need to be listed on Schedule A?

 

If a trust is listed as a Direct Owner/Executive Officer on Schedule A, each trustee must also be listed on Schedule A.

  

When filing a Partial BDW, can the "Custodian of Books and Records" be a firm?

 

For FINRA members, the Custodian of Books and Records must be an individual, not a firm. If you place a firm in that field, it will trigger a filing deficiency.