Web COBRADesk

As announced in Regulatory Notice 12-22, FINRA is introducing a new public offering filing system for public offerings that are required to be filed under FINRA Rules 5110, 5121 and 2310 (Corporate Financing Rules). The new Public Offering System will provide operational efficiencies and useful enhancements for filers. The new system will replace COBRADesk, which has been operational since 1999 and will be retired on June 20, 2012. Learn more.

 

The Corporate Offerings Business Regulatory Analysis system (COBRADesk) is the external system used by filers to make electronic filings of public offerings with the Department over the Internet.  On April 9, 2002, the Securities and Exchange Commission (SEC) approved amendments to FINRA Rule 5110 (formerly NASD Conduct Rule 2710) (the Corporate Financing Rule) that require members that file information on public offerings of securities with the Corporate Financing Department (Department) to use the Department's internal electronic filing system (COBRA).  The mandatory electronic filling became effective on July 12, 2002.  In addition, the amendments provide that all documents that are filed with the SEC through its Electronic Data Gathering and Retrieval System (EDGAR) will be treated as filed with FINRA provided that the Accession Numbers to the documents are included in the COBRADesk filing. 

 

Filers, which consist of law firms that represent and file on behalf of members with the Department, and members and issuers who do not engage outside counsel and file directly with the Department, must request a unique identifier (Firm ID) and its users must register to use COBRADesk. 

 

Before a firm can use COBRADesk to make an electronic filing with the Department, the following steps must be completed:

 

  1. Choose at least one Coordinator to act as the firm’s contact person for COBRADesk.
  2. The coordinator shall send an email to request the Firm ID and include the following information:  the firm’s name, address, coordinator’s name, phone number, and email address.
  3. The Firm ID will be sent to the coordinator who must first register before other users in the firm can register.  The coordinator will also receive a brochure explaining the duties and responsibilities of a coordinator.
  4. After the coordinator has registered and received the “registration approved” email, he/she can provide his/her name and the Firm ID to other users to register at https://www.cobradesk.com/cdsk_register.asp.  The Firm ID and coordinator’s name are required for each user registration.  (Please keep the user name and password you selected in a secure place, it will be required to logon to the system after acceptance.)
  5. Upon acceptance, the Department will send confirmation via email to each user that he/she may begin using COBRADesk. 
  6. The coordinator will also receive notification of his/her firm’s user registrations that were accepted and rejected by FINRA.  (Note:  FINRA will reject registration requests that contain erroneous information.)
  7. Log on to COBRADesk at https://www.cobradesk.com. Enter the user name and password you chose at registration. You will need to see your coordinator if you forgot your password.

 

To see the rule amendments and further background, view Notice to Members 02-26.