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4530 Disclosure Timeliness Report Card

The 4530 Disclosure Timeliness Report Card is produced on a monthly basis to show a firm's performance in timely reporting of disclosure events as required by FINRA Rule 4530(a) and (b). The information in this report comes primarily from the Rule 4530 Application; to read more about the system, please see Disclosure Events and Customer Complaint Filings.

Please note: Prior to July 1, 2011, firms reported their disclosure events pursuant to NASD Rule 3070, which required the filing of certain disclosure events within 10 business days after the firm knew or should have known of the events. This report was previously titled the 3070 Disclosure Timeliness Report Card, and showed a firm's performance in timely reporting of disclosure events pursuant to that rule. Firms that are also registered with NYSE did not previously have any data displayed in this report, as they were submitting pursuant to NYSE Rule 351.

Keep in mind that, although the report is now titled the 4530 Disclosure Timeliness Report Card, the months prior to July 2011 show a firm's compliance with the 10 business day requirement of NASD Rule 3070.

This report is provided as an aid to assist FINRA members in assessing and monitoring compliance with certain reporting obligations under FINRA rules. This report does not reflect a determination by FINRA that the firm has or has not violated applicable rules governing these areas.

Report Summary

The tables below provide a reference description for all of the elements found in the 4530 Disclosure Timeliness Report Card.

Firm Totals - 4530 Disclosure Filings

Term Description
Month This is the month and year that the Disclosure filings were submitted to the Rule 4530 Application.
Associated Individuals This is the number of individuals associated with the firm at the time of the report. An associated individual is defined as any natural person described by the definition of Associated Person as found within FINRA By-Laws Article I (dd). This information comes from Web CRD®. To see a list of individuals associated with the firm, a user with Web CRD Reporting access may log into Web CRD and request the "Roster - Individual - Firms" report, including both registered and non-registered individuals.
Initial Filings Submitted This is the number of initial disclosure filings submitted by the firm to the Disclosure Events and Complaints system during the respective month.
Late Filings Submitted FINRA Rule 4530 requires a firm to report the occurrence of any of the disclosure events specified in Section A of the rule no later than 30 calendar days after the firm knows or should have known of the event. This is the number of initial disclosure filings submitted by the firm to the Disclosure Events and Complaints system more than 30 calendar days after the event's discovery date during the respective month.
% Filings Late This is the percentage of the initial disclosure filings submitted by the firm during the respective month that were late.
Amended Filings Submitted This is the number of disclosure amendments that the firm submitted during the respective month. Note: if a firm amends a single filing more than once in a month, each amendment of that filing will be counted as part of the Amended Filings Submitted total.
Average The Average row of the disclosure filings table contains the average of each column over the 12 month period displayed for the firm.

Industry Totals - 4530 Disclosure Filings

Term Description
Initial Filings Submitted This is the total number of initial disclosure filings submitted to the Rule 4530 Application during the respective month.
Late Filings Submitted This is the total number of initial disclosure filings submitted late to the Rule 4530 Application during the respective month.
% Filings Late This is the percentage of the initial disclosure filings submitted to the Rule 4530 Application during the respective month that were late.
Amended Filings Submitted This is the total number of disclosure amendments that were submitted to the Rule 4530 Application during the respective month. Note: if a single filing is amended more than once in a month, each amendment of that filing will be counted as part of the Amended Filings Submitted total.
Average The Average row of the disclosure Filings table contains the average of each column over the 12 month period displayed for the industry.

Firm Totals - 4530 Disclosure Late Filing Details

Term Description
Month This is the month and year that the disclosure filings were submitted to the Rule 4530 Application .
1 - 5 Days Late This is the number of disclosure filings submitted by the firm to the Rule 4530 Application during the respective month that were from 1 to 5 days late.
6 - 10 Days Late This is the number of disclosure filings submitted by the firm to the Rule 4530 Application during the respective month that were from 6 to 10 days late.
11 - 20 Days Late This is the number of disclosure filings submitted by the firm to the Rule 4530 Application during the respective month that were from 11 to 20 days late.
21 - 30 Days Late This is the number of disclosure filings submitted by the firm to the Rule 4530 Application during the respective month that were from 21 to 30 days late.
> 30 Days Late This is the number of disclosure filings submitted by the firm to the Rule 4530 Application during the respective month that were more than 30 days late.

Detail Data

If your firm has at least one late filing on a 4530 Disclosure Timeliness Report Card or 3070 Disclosure Timeliness Report Card from October 2008 forward, you can request details of any late filings via the Report Center.

To request detail for the report month viewed, click the Details link in the header of the report, and click Request File to request the detail data. A dialog box will appear allowing you to open the detail data file in .csv format, save the file, or cancel the request. Clicking Details will return the details for the late filing count displayed in the most recent month visible on the report. To request the data for a prior month, use the Period drop-down in the header of the report to navigate to that month, and then click the Details button. If your firm has no late filings for the report period viewed, clicking Details will return a message notifying you that no detail data is available for that report month since there are no late filings for that month.

The detail data for the 4530 Disclosure Timeliness Report Card contains the Filing Number, Discovery Date (date the firm learned of the reportable event), Submission Date (date the firm submitted the filing to FINRA), and Event Type for all late filings in the report month. To see more specifics on a late filing, a user with access to the Rule 4530 Application can search for each filing by filing number and review the filing in full.