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Registered Representative Composition Report

The Registered Representative Composition Report is produced on a quarterly basis and displays trends in the profile of registered representatives associated with the firm. The report allows firms to compare their statistics to those of the industry. The data in this report comes from Web CRD®.

This report is generally published approximately 5 weeks after the last business day of the quarter. Users who have not opted-out of notifications will receive an email indicating that new reports have been published.

Report Glossary

The tables below provide a reference description for all of the elements found in the Registered Representative Composition Report. (See Registered Representative Composition Report for a sample segment of the report.)

Term

Definition

% of Total Reps Of the total number of representatives registered with the firm at the end of the reporting period, this is the % of those representatives in the category listed. ((Category Rep Count / Total Rep Count)*100)
% Change from Prior Period This is the % difference between the current and previous quarter's data for the category listed. If the previous quarter's count is zero or data does not exist for the previous quarter, this field will be blank. ((Current Quarter - Previous Quarter) / Previous Quarter)*100

Registered Representative Composition Report

Term

Definition

Firm Registered Reps Count This is the total number of representatives registered with the firm at the end of the reporting period. A registered person is anyone with an open employment with the firm on the last day of the reporting period, where the person has a registration status of Approved, Approved Pending Prints, or Temporary registration with FINRA or other SRO.
Industry Registered Reps Count This is the total number of registered representatives in the industry at the end of the reporting period.
Firm New to Industry Reps Count This is the number of representatives registered with the firm at the end of the reporting period that were approved during the report period and a) had never held an approved registration prior, or b) had not held an approved registration in the two years prior to the beginning of the report period. To clarify, this count only includes individuals whose registrations with the firm were approved during the report period.
Industry New to Industry Reps Count This is the total number of registered representatives in the industry at the end of the reporting period whose registration was approved during the report period and that have either never been approved before or had not held an approved registration in the two years prior to the beginning of the report period.
Firm Reps Transferred from Another Firm Count This is the number of representatives registered with the firm at the end of the reporting period who had their FINRA registration approved with the firm during the report period, and who also had an approved FINRA (or other SRO) registration with another firm within the two years prior to the beginning of the report period. To clarify, this count only includes individuals whose registrations with the firm were approved during the report period.
Industry Reps Transferred from Another Firm Count This is the total number of registered representatives in the industry at the end of the reporting period who had their registration approved with a firm during the report period, and who also had an approved registration with another firm within the two years prior to the beginning of the report period.
Firm Reps Registered with 3 or More Firms in the Last 2 Years Count This is the number of representatives registered with the firm at the end of the reporting period that have been registered with 3 or more firms during the time from the beginning of the report period 2 years prior to the end of the current report period. A prior firm employment is only counted if the person was registered. To clarify, this count includes all individuals registered with the firm at the time the report was run that meet this criteria.
Industry Reps Registered with 3 or More Firms in the Last 2 Years Count This is the total number of registered representatives in the industry at the end of the reporting period that have been registered with 3 or more firms during the time from the beginning of the report period 2 years prior to the end of the current report period. A prior firm employment is only counted if the person was registered.
Firm Terminated Reps Count This is the number of representatives that were registered with the firm at the beginning of the report period and who terminated their employment with the firm during the report period.
Industry Terminated Reps Count This is the total number of registered representatives in the industry at the beginning of the report period and who terminated their employment with a firm during the report period.
Firm Reps with 1 or More Disclosures Count This is the number of representatives registered with the firm at the end of the reporting period that have at least one reportable disclosure of any type on their record. This includes disclosures reported on Form U4, U5 or U6. To clarify, this count includes all individuals registered with the firm at the time the report was run that meet this criteria. This does NOT include disclosures which have been archived and are no longer reportable.
Industry Reps with 1 or More Disclosures Count This is the total number of registered representatives in the industry at the end of the reporting period that have at least one reportable disclosure of any type as reported on Form U4, U5 or U6.
Firm Reps with Customer Complaint Disclosures Count This is the number of representatives registered with the firm at the end of the reporting period that have at least one reportable customer complaint disclosure on their record. This includes all reps with "Yes" answers to any of the Customer Complaint/Arbitration/Civil Litigation Disclosure questions on the Form U4 or U5, or analogous questions on the Form U6. To clarify, this count includes all individuals registered with the firm at the time the report was run that meet this criteria. This does NOT include disclosures which have been archived and are no longer reportable.
Industry Reps with Customer Complaint Disclosures Count This is the total number of registered representatives in the industry at the end of the reporting period that have at least one reportable Customer Complaint disclosure on their record. This includes all reps with "Yes" answers to any of the "Customer Complaint/Arbitration/Civil Litigation Disclosure questions on the Form U4 or U5, or analogous questions on the Form U6.
Firm Reps with Arbitration / Civil Litigation Disclosures Count This is the number of representatives registered with the firm at the end of the reporting period that have at least one reportable arbitration or civil litigation disclosure on their record. From 2nd Quarter 2009 forward, this count is a subset of the Representatives with Customer Complaint Disclosures category, and includes any representatives who have reportable disclosures on Form U4, U5 or U6 for which the related DRP(s) indicate the event has gone to arbitration or civil litigation. This does NOT include disclosures which have been archived and are no longer reportable. PLEASE NOTE: For all quarters PRIOR to 1st Quarter 2007, reps with civil judicial disclosures are also included in this count.
Industry Reps with Arbitration / Civil Litigation Disclosures Count This is the total number of registered representatives in the industry at the end of the reporting period that have at least one reportable Arbitration or Civil Litigation disclosure on their record. This includes "Yes" answers to question 14.I(1) on the Form U4, question 7.E(1) on the Form U5, and analogous questions on the Form U6. PLEASE NOTE: For all quarters PRIOR to 1st Quarter 2007, reps with civil judicial disclosures are also included in this count.
Firm Reps with Criminal Disclosures Count

This is the number of representatives registered with the firm at the end of the reporting period that have at least one reportable criminal disclosure on their record.

Please note: This category was added in 2017
Industry Reps with Criminal Disclosures Count This is the total number of registered representatives in the industry at the end of the reporting period that have at least one reportable criminal disclosure on their record.
Firm Reps with Financial Disclosures Count

This is the number of representatives registered with the firm at the end of the reporting period that have at least one reportable financial disclosure on their record.

Please note: This category was added in 2017
Firm Reps with Financial Disclosures Count This is the total number of registered representatives in the industry at the end of the reporting period that have at least one reportable financial disclosure on their record.
Firm Reps Ever Previously with a Severely Disciplined Firm Count This is the number of representatives registered with the firm at the end of the reporting period that have ever been registered with a firm that has ever been severely disciplined. To be included in this count, the rep must have worked for the firm that was severely disciplined for more than 3 months, but does not need to be employed by the firm at the time it was disciplined to be included in this count. Severely disciplined firms are those defined as such by FINRA Rule 3170 (formerly NASD Conduct Rule 3010(b)(2)). For a list of severely disciplined firms, click the 'list' hyperlink in the 'Reps Ever Previously with a Severely Disciplined Firm' table within the Registered Representative Composition Report.
Industry Reps Ever Previously with a Severely Disciplined Firm Count This is the total number of registered representatives in the industry at the end of the reporting period that have ever been employed by a severely disciplined firm. Severely disciplined firms are those defined as such by FINRA Rule 3170 (formerly NASD Conduct Rule 3010(b)(2)). For a list of severely disciplined firms, click the 'list' hyperlink in the 'Reps Ever Previously with a Severely Disciplined Firm' table within the Registered Representative Composition Report.

Detail Data

The Detail Data for the Registered Representative Composition Report provides the list of reps that make up each firm count included in the Registered Representative Composition Report, other than the count of all Registered Representatives registered with your firm, since a firm can request a list of all of its representatives via the Web CRD® system. If you have access to Web CRD, click Request Report from the CRD site map, and request the report entitled Roster - Individual - Firms to see a list of all individuals registered with the firm at the time the report is requested.

The detail data contains the First Name, Middle Name, Last Name, Suffix, and Individual CRD Number for each registered representative included in any of the counts provided on the report (other than the Registered Reps Count), and a "Yes" indicating the count(s) in which the rep is included. Please note: the detail provided for the quarter will correspond to the count provided in that quarter. Any activity occurring after the end of the quarter will not affect that quarter's detail. For instance, if the firm has three reps with disclosure in the 2nd Quarter, and then one of those reps leaves the firm in the 3rd Quarter, the detail data for 2nd Quarter 2009 will still contain that representative's information. The only exception to this is in the case where a registered rep's disclosure is expunged from his record. If detail data is requested after the expungement is complete, the "Reps with 1 or More Disclosures Count" on the summary report will not change, however that representative will no longer be included in the detail data for that category.

Please see the Registered Representative Composition Report help for a list of the counts included in the report and information about how the counts are derived. If you have questions about the representatives included in the detail data, please send an email to [email protected].