Letter to Members

To: Selected FINRA Members

Re: Annual Audit Report

 

Securities and Exchange Commission (SEC) Rule 17a-5(d)(1)(i) requires every broker or dealer registered pursuant to Section 15 of the Act of 1934 to file a certified annual audit no later than 60 calendar days from their designated fiscal year end. To complete your financials, please find SEC form X-17A-5, Part III, which is a document used to identify annual audit reports. This form must accompany your annual audit. Note that the form contains space for your firm’s name and address, the name and address of your accountant, the oath or affirmation, and a checklist of items included in the report.

 

In adopting the annual audit facing page, the SEC reminded broker/dealers filing this report that they can receive confidential treatment for all parts other than the statement of financial condition. Members desiring such confidential treatment should review the provisions of subparagraph (e)(3) of SEC Rule 17a-5. Any portion that you wish to be treated as confidential should be bound separately from the statement of Financial Condition.

 

Upon completion of your report, two copies of the audited report must be filed with the Principal Office of the SEC in Washington, DC, one copy to the appropriate Regional/District Office of the SEC, and one copy to the Principal Office of FINRA at the following address within 60 calendar days after the firm's fiscal year end period:

 

FINRA/Financial Operations
9509 Key West Avenue, 5th Floor
Rockville, MD  20850
Attn: Eleanor Sabalbaro

 

If your firm is unable to meet the filing deadline due to exceptional circumstances, you may request an extension by writing the appropriate District Office of FINRA no later than three business days prior to the filing deadline. For more details, please refer to NASD Notice to Members 01-54.

 

Please alert your accountant that since SIPC has suspended assessments based on net operating revenue, A SIPC Supplemental Report is not required.

 

It is important that a copy of the report also be retained in your files. Questions concerning this information may be directed to Eleanor Sabalbaro at (240) 386-5161.