Regulatory Notice - 13-11

FINRA Provides a Process for Waiving CMA Fees for Less Significant CMA Changes and Refunding of NMA and CMA Fees for Applications Withdrawn Within 30 Days After Filing

Effective Date: Immediately

Effective immediately, FINRA will waive the requisite continuing membership application (CMA) fee where FINRA determines that a CMA is proposing less significant changes that do not require substantial staff review. Examples of changes that may qualify for a CMA fee waiver are described below. Also effective immediately, FINRA will refund the application fee (less a $500 processing fee) if an applicant withdraws a new membership application (NMA) or CMA within 30 days after filing the application with FINRA.

The text of the rule amendments effecting these changes is set forth in Attachment A.

Questions concerning this Notice should be directed to:

  • Allison Reid, Associate Director, Membership Application Program (MAP), at (212) 858-4418;
  • Lisa Robinson, Associate Director, MAP, at (212) 858-4764; or
  • Joseph Sheirer, Director and Counsel II, MAP, at (212) 858-5132.