Register a New Broker-Dealer Firm
In this section of FINRA.org, you will find step-by-step instructions on how to become a FINRA-registered broker-dealer. FINRA’s membership requirements are spelled out in the NASD Rule 1010 Series. This general guide outlines the substantive standards and procedures for the entire membership application and registration process.
Firms should carefully consider applying for FINRA membership. It is a serious undertaking. Depending on your desired goals, you might consider alternatives to applying for membership. For instance, you might achieve your objectives by working for an existing member firm or managing a branch office, thus avoiding the rigorous firm application process.
If you decide to apply, it is imperative that you fully understand all of FINRA’s substantive and procedural requirements. You can find them in the NASD Rule 1010 Series and NASD Rule 1014. We recommend that you also read the this section of FINRA.org thoroughly, as well as the applicable FINRA and SEC rules in detail.
Moreover, you must be able to provide, in a timely manner, information that addresses how you will satisfy the Qualifications and Standards of Admission as well as other applicable statutory and regulatory requirements. Application rules require that you strictly adhere to specific deadlines during the process.
Below you will find how the membership process works and how to prepare your FINRA application.
Learn the steps to take to submit a new member application, from reserving your firm’s name to filling out all the required forms via the Firm Gateway. Your Form NMA and supporting documentation must satisfy the Standards of Admission set forth in NASD Rule 1014.
After receiving a substantially complete application, FINRA must review and process it within 180 calendar days. Learn how the entire process works, including how to amend an application and the purpose of the membership interview.