Register a New Candidate
Firms must register any person engaged in the securities business of the firm by filing the appropriate registration application online through the Central Registration Depository (Web CRD) to become registered with FINRA, the appropriate jurisdictions and/or self-regulatory organizations. After registration, a 120-day window will be available for the individual to schedule an appointment to take the required qualification exam(s).
Registered representatives and firms have a continuing obligation to promptly update an individual’s registration whenever an event or proceeding occurs to render a previous response inaccurate or incomplete.
Test Enrollment Services System (TESSTM) should be used by individuals who are not employed or associated with firms, and as part of the registration process they have been required by a regulatory authority to qualify by examination, but are not required to file a Form U4.
Non-FINRA firms should check with the regulatory authority with whom the individual is requesting registration to determine whether or not a Form U4 must be filed.
Applicable examination fees and registration-related fees are assessed with form filings submitted through Web CRD. Non-FINRA firm candidates will be assessed fees for their qualification exams at the time of enrollment request.
FINRA, in exceptional cases, may waive qualification examinations and accept other standards as evidence of an applicant’s qualification for registration. Waiver requests must be filed electronically via the Firm Gateway.
Qualification exams are assigned a registration code.
Withdrawing an Individual Application (Form U5)
To voluntarily withdraw a Form U4 application filed on behalf of a registered individual, an Applicant (and member firm) should file Form U5 (PDF 166 KB ) (the Uniform Termination Notice for Securities Industry Registration) electronically via Web CRD. A $40 filing fee automatically will be deducted from the firm's CRD account once filed. A copy of Form U5 is available on the CRD Information Page of FINRA's Web site. See Article V, Section 3 of FINRA By-Laws regarding the member firm's obligation to notify FINRA and the associated person of the termination, and the continuing obligation of the member firm to update the Form U5 after termination.