How to Apply as a New Broker-Dealer Firm

In order to become a member of FINRA, your firm must follow the steps outlined on this page.

1. Reserve Your Firm’s Name


Make sure to request and reserve a proposed name for your firm before making any other submissions to FINRA.

Learn more about reserving a firm name.

To reserve a name, please complete the Firm Name Reservation Form. Send the completed form by mail, fax or email to:

FINRA
Regulatory Review and Disclosure Department
9509 Key West Avenue
Rockville, MD 20850
Fax: (301) 216-3710
Email: DisclosureReviewOrga@finra.org

2. Complete the New Organization Super Account Administrator (SAA) Form.


The Super Account Administrator (SAA) is responsible for creating and maintaining firm account administrator and user accounts for FINRA applications. Each firm must designate an SAA by completing the New Organization SAA Form. View FINRA’s Entitlement Program website for additional information, including SAA responsibilities.

Once FINRA processes your firm’s SAA form, your firm’s SAA will receive FINRA Entitlement Program login credentials, the organization ID number, and entitlement to the FINRA systems required to submit filings and electronically fund your firm’s Flex Funding Account.

3. Pay Your Application Fees


Your firm must pre-fund your firm’s Flex-Funding Account to pay the appropriate Membership Fee before submitting your New Member Application (Form BD) to FINRA. To determine the required Membership fee, visit FINRA’s Registration Fees page.

Your firm can submit this initial payment by:

Note: Check payments are not an option for this first Flex-Funding Account deposit.

4. Submit Form BD electronically to FINRA via Web CRD


Access your firm’s Web CRD account to complete and submit the Initial Form BD application. See the pages below for instructions and guidance.

5. Mail Hard-Copy Form


Once you have submitted Form BD electronically to Web CRD, you must send a signed and notarized copy of the form to:

FINRA
Regulatory Review and Disclosure Department
9509 Key West Avenue
Rockville, MD 20850

6. Submit All Required Forms Via Firm Gateway


After your firm submits Form BD electronically to Web CRD, your firm will be able to submit all relevant forms via the Firm Gateway, including the following:

  1. Uniform Application for Securities Industry Registration or Transfer (Form U4) for proposed associated persons, including all individuals listed in Schedules A and B on Form BD. Learn more about Form U4.
  2. New Member Application form (Form NMA). Learn more about Form NMA.
  3. Uniform Branch Office Form (Form BR) for each proposed location. Learn more about Form BR.

For a full list of all forms, documents and instructions your firm may need, visit the FINRA Registration Forms and Documents page. The Web CRD Quick Reference Guides are job aids that provide instruction and guidance on how to use Web CRD to submit form filings.

Once your firm is granted access to the Firm Gateway, all subsequent required application, examination and registration fees will be paid via your firm’s FINRA Flex-Funding Account. Funds must be deposited into the Flex-Funding Account in advance. Please visit the Pay Fees page for resources to help calculate and pay broker-dealer related fees.

7. Submit Fingerprints


Following entitlement to the Firm Gateway and Form NMA, your firm must submit fingerprints of those individuals specified in Rule 17f-2 of the Securities and Exchange Act of 1934. Firms submit fingerprint information to FINRA in two ways: electronically through FINRA's Electronic Fingerprint Submission (EFS) Program or by using hard copy fingerprint cards. Visit the FINRA fingerprints page to learn more about fingerprint requirements, including submission deadlines.