Regulatory Notifications
Several rules require notification to FINRA and the U.S. Securities and Exchange Commission (SEC) based on certain financial and operational obligations. FINRA’s Regulatory Notifications application in FINRA Gateway provides a filing system for member firms to electronically submit this information to FINRA. For guidance related to submitting required notifications to the SEC, firms should visit the SEC’s website or contact the SEC.
CHANGES AS OF APRIL 27, 2024
FINRA has improved member firms’ compliance and reporting experience by creating a new streamlined and intuitive data entry process for Financial Notifications – now known as Regulatory Notifications. FINRA updated 13 existing Regulatory Notification forms, including:
- new, combined forms and filings to reduce redundant reporting; and
- a new amendments function to help firms make changes to forms.
On April 27, 2024, Financial Notifications will be located under a new “Regulatory Notifications” header on the Browse Forms & Filings page in FINRA Gateway and will include updated rule references.
- Until April 27, 2024, firms can continue to create new filings, edit draft filings, and view submitted filings on the Browse Forms & Filings page, under “Financial Notifications.”
- Draft filings of the 13 updated forms (listed in the table below) that have not been submitted by 8:00 pm EST on April 26, 2024, will be deleted. Users with draft filings will be notified before this date.
- Beginning April 27, 2024, firms will be able to create new forms on the Browse Forms & Filings page, under “Regulatory Notifications.”
In addition, FINRA added two new forms for Covered Agency Transactions Pursuant to Regulatory Notice 23-14 (Amendments to Covered Agency Transaction Requirements under FINRA Rule 4210; Announcement of Effective Date).
List of Notifications
| Current Name | Name Effective April 27, 2024 | Rule Reference |
| Statement Regarding Independent Public Accountant | Revised & consolidated to: Statement & Replacement of Accountant | SEA Rule 17a-5(f)(2) & SEA Rule 17a-5(f)(3) |
| Replacement of Accountant | ||
| Failure to Make and Keep Current Books and/or Records – Initial Notification | Revised & consolidated to: Failure to Keep Books and Records | SEA Rule 17a-11(c) |
| Failure to Make and Keep Current Books and/or Records – Follow Up Report | ||
| Notice of Material Inadequacy or Material Weakness – Initial Notification | Revised & consolidated to: Material Weakness & Material Inadequacy | SEA Rule 17a-11(d)(1), SEA Rule 17a-11(d)(2) & SEA Rule 17a-5(h) |
| Material Inadequacy or Material Weakness – Follow Up Report | ||
| Withdrawals of Equity Capital | Withdrawals of Equity Capital | SEA Rule 15c3-1(e)(1)(i) or SEA Rule 15c3-1(e)(1)(ii) |
| Failure to make a deposit in the special reserve bank account or special account (SEA Rule 15c3-3(i)) | Special Reserve Account (Hindsight Deficiency) | SEA Rule 15c3-3(i) & SEA Rule 15c3-3(i) & SEA Rule 15c3-3(i) & SEA Rule 15c3-3(i)/01 |
| Undertaking Regarding Electronic Recordkeeping System | Electronic Recordkeeping Systems | SEA Rule 17a-4(f)(3)(v)(A) |
| Net Capital below minimum amount required (SEA Rule 17a-11(b)) | Net Capital Deficiency | SEA Rule 15c3-1(a) & SEA Rule 17a-11(a)(1) |
| Aggregate Indebtedness > 1200% of Net Capital | Aggregate Indebtedness in Excess of 1,200% of Net Capital | SEA Rule 17a-11(b)(1) |
| Net Capital < 5% Aggregate Debit Items | Net Capital less than 5% of Aggregate Debit Items | SEA Rule 17a-11(b)(2) |
| Net Capital < 120% Minimum Net Capital | Net Capital less than 120% of Required Minimum Net Capital (Early Warning) | SEA Rule 17a-11(b)(3) |
| Failure to make a deposit in the Special Reserve Account for the Exclusive Benefit of Security-Based Swap customers | Special Reserve Account (Hindsight Deficiency) | SEA Rule 17a-11(f) |
| NEW Effective April 27, 2024: Covered Agency TNC Threshold > $25 Million or 25% | Covered Agency TNC Threshold > $25 Million or 25% | FINRA Rule 4210(e)(2)(H) |
| NEW Effective April 27, 2024: TNC Threshold >5% or >25% | TNC Threshold >5% or >25% | FINRA Rule 4210(e)(2)(I) |
If you have problems using the Regulatory Notifications application, please contact the FINRA Support Center at (800) 321-6273. FINRA also encourages firms to contact their assigned Risk Monitoring Analyst for additional guidance.