Membership Rules Reference

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

Qualification for Membership FINRA By-Laws, Article III
Restrictions on Admission to or
Continuance in Membership
FINRA By-Laws, Article III, and NASD Rule 1017
Similarity of Membership Names FINRA By-Laws, Article IV, Section 2
Membership Application Fee FINRA By-Laws, Schedule A
Executive Representative FINRA By-Laws, Article IV, Section 3
Registration of Branch Offices  
Limited Principal—Direct Participation Programs NASD Rule 1022(e)
Registered Options and Securities Futures Principal NASD Rule 1022(f), IM-1022-1
Persons Exempt From Registration NASD Rule 1060
Annual Assessment of Firms and Individuals FINRA By-Laws, Schedule A, Section 1
Fees (branch offices,
registrations, examinations, firms)
FINRA By-Laws, Schedule A, Section 2
Fidelity Bond Requirement FINRA Rule 4360
SEC Net Capital Rule SEC Rule 15c3-1
SEC Fingerprint Rule SEC Rule 17f-2
Membership Interview NASD Rule 1013(b)
Standards for Admission NASD Rule 1014(a)
Lapse of an Application NASD 1012(b)
Written Supervisory Procedures NASD Rule 3010