Proposed Rule Change to Amend Section 4 of Schedule A to the FINRA By-Laws to Adopt a Waiver Process for the Continuing Membership Application Fee and Amend NASD Rules 1013 and 1017 to Provide for a Refund of the Application Fee for the Withdrawal of a New Member or Continuing Membership Application

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend Section 4 of Schedule A to the FINRA By-Laws to adopt a waiver process for the continuing membership application fee where FINRA determines that the application is proposing less significant changes that do not require substantial staff review. The proposed rule change also would amend NASD Rules 1013 (New Member Application and Interview) and 1017 (Application for Approval of Change in Ownership, Control, or Business Operations) to provide for a refund of the application fee (less a $500 processing fee) if a new member applicant or continuing membership applicant withdraws an application within 30 days after filing the application.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 83.82 KB
Notice of Filing and Immediate EffectivenessPDF - 200.6 KB