Membership Rules Reference

The following topics cover the requirements applicable to membership, indexed to the related sections in the FINRA Manual.

 

Qualification for MembershipFINRA By-Laws, Article III
Restrictions on Admission to or
Continuance in Membership
FINRA By-Laws, Article III, and NASD Rule 1017
Similarity of Membership NamesFINRA By-Laws, Article IV, Section 2
Membership Application FeeFINRA By-Laws, Schedule A
Executive RepresentativeFINRA By-Laws, Article IV, Section 3
Registration of Branch OfficesFINRA By-Laws, Article IV, Section 8
Definition of Branch OfficeNASD Rule 3010
Registration of PrincipalsNASD Rule 1020
Two Principal RequirementNASD Rule 1021(e)
Categories of Principal RegistrationNASD Rule 1022
General Securities PrincipalNASD Rule 1022(a)
Limited Financial and Operations PrincipalNASD Rule 1022(b)
Limited Principal—Investment Company
and Variable Contract Products
NASD Rule 1022(d)
Limited Principal—Direct Participation ProgramsNASD Rule 1022(e)
Registered Options and Securities Futures PrincipalNASD Rule 1022(f), IM-1022-1
Persons Exempt From RegistrationNASD Rule 1060
Annual Assessment of Firms and IndividualsFINRA By-Laws, Schedule A, Section 1
Fees (branch offices,
registrations, examinations, firms)
FINRA By-Laws, Schedule A, Section 2
Fidelity Bond RequirementFINRA Rule 4360
SEC Net Capital RuleSEC Rule 15c3-1
SEC Fingerprint RuleSEC Rule 17f-2
Membership InterviewNASD Rule 1013(b)
Standards for AdmissionNASD Rule 1014(a)
Lapse of an ApplicationNASD 1012(b)
Written Supervisory ProceduresNASD Rule 3010