Regulatory Notice 08-45

FINRA to Deduct All Delinquent Arbitration and Mediation Fees from CRD Accounts

Effective Date: September 22, 2008

Effective September 22, 2008, FINRA will begin deducting all delinquent arbitration and mediation fees owed by member firms from their Central Registration Depository accounts. Such fees are considered delinquent if they are not paid within 60 days after the date of an invoice.

When collecting arbitration and mediation fees, FINRA will:

  • send a written invoice informing the firm that the fees are due and must be paid within 60 calendar days of the invoice date; and
  • deduct the delinquent fees from funds maintained in a firm's Central Registration Depository account.

Questions regarding this Notice may be directed to Dorothy Popp, Vice President and Director of Operations, at (212) 858-3950.