Regulatory Notice 11-46

FINRA to Require Electronic Submission of Annual Audit Reports

 

Effective Date: November 8, 2011, for all annual audit reports with a fiscal year end on or after September 30, 2011

Executive Summary

FINRA is revising the process by which member firms submit to FINRA the annual audited financial statements required pursuant to Securities Exchange Act (SEA) Rule 17a-5(d) (annual audit reports). Specifically, pursuant to NASD Rule 3170, FINRA is requiring, effective November 8, 2011, that firms submit their annual audit report in electronic form. This requirement is applicable to annual audit reports with a fiscal year end on or after September 30, 2011. This Notice discusses the electronic submission process, which will replace the  current submission of annual audit reports in hard copy form to FINRA. Once FINRA has completed the transition to electronic submission of annual audit reports, as described in this Notice, FINRA will no longer accept annual audit reports filed in hard copy form.

 

Questions concerning this Notice may be directed to your firm’s Regulatory Coordinator.