Web CRD Form BD Timeliness Report Card
The Web CRD Form BD Timeliness Report Card is a monthly analysis of FINRA firms' ability to meet certain filing obligations. In accordance with FINRA rules, firms are required to submit information related to applicant member and/or affiliate(s). This report displays a firm's performance in submitting certain BD amendment filings in the required time frame.
The information in this report is provided to assist FINRA members in assessing and monitoring compliance with certain reporting obligations under FINRA By-Laws and rules. Provision of this report does not relieve a firm from complying with obligations imposed under FINRA By-Laws and rules and does not limit or prevent FINRA from taking appropriate regulatory or disciplinary action against a firm. Firms should continue to rely on Web CRD for filing detail.
|Firm Totals||Form BD amendment Filing Summary for the Firm.|
|Industry Totals||Form BD amendment Filing Summary for the Industry.|
|Month||This is the month and year from which the underlying data was retrieved.|
|Disclosure Updates Filed||This is the number of Form BD amendment disclosure events submitted on a DRP Part II by the firm or the industry to Web CRD during the respective month that included a change to the date initiated or date resolved.|
|Non-Disclosure Updates Filed||This is the number of Form BD amendment changes to succession, owner/officer, affiliates, or arrangements submitted by the firm or the industry to Web CRD during the respective month that included a change to the effective or termination date.|
|Updates Filed Late||Article IV, section 1(c) of the FINRA By-laws requires a firm to keep its Form BD application current at all times by supplementary amendments. Such amendment to the BD application shall be filed not later than 30 days after learning of the facts or circumstances giving rise to the amendment. This is the number of updated items where the effective or resolution/termination date was over 30 days prior to the filing submission date. In the case of Owner/Officer changes where only a Month/Year is provided, the change is assumed to be effective on the last day of the reported month.|
|% Updates Late||This is the percentage of disclosure and non-disclosure BD updates submitted by the firm during the respective month that were late.|
|Average||The Average row of the disclosure and non-disclosure BD events table contains the average of each column over the 12 month period displayed.|
The table below provides a reference description for all of the elements found in the Form BD Timeliness Details.
|Firm CRD #||Broker-Dealer CRD # for the firm responsible for the submission to Web CRD.|
|Firm Name||Broker-Dealer for the firm responsible for the submission to Web CRD.|
|Filing ID||ID assigned by Web CRD for the BD filing that was late.|
|Change Type||Type of update to the Form BD that was determined to be filed late.|
|Reference||Details of the information that was filed late.|
|Days Late||Number of days late the filing was made on Web CRD.|