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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.

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: [email protected]

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


Applicant firms must also submit additional forms via the Firm Gateway or in CRD.

New Member Application

The New Member Application form (Form NMA) is available in Firm Gateway. 

Learn more about Form NMA

Individuals 

Uniform Application for Securities Industry Registration or Transfer (Form U4)

Applicant firms must request principal registration via Form U4 for at least two qualified individuals and a Financial Operations Professional (FinOp). All other representatives and principals who will be registered with the firm must also have a Form U4 submitted on their behalf. Individuals listed in Schedules A and B on Form BD but will not hold registrations with the firm must have a Page 2 Form U4 filed on their behalf. 

Learn more about Form U4

Branch

Uniform Branch Office Registration Form (Form BR)

At least one branch office location must be registered by submitting Form BR. Every registered branch must have a Supervisor or Person-in-Charge that is registered with the firm. Applicant firms should follow this three-step process to submit the relevant filings for new branches and Supervisors/Persons-in-Charge.

  1. File an Initial Form U4 to register the individual who will be designated as a Supervisor or Person-in-Charge on Form BR, and assign the individual to the firm’s main office (i.e., BDMAIN or IAMAIN) as a “placeholder” Office of Employment Address;
  2. File the Initial Form BR to register the location as a branch and select the individual to be a Supervisor/Person-In-Charge of the branch (the Form BR filing will automatically create an Office of Employment Address for the branch on the Individual’s record); and
  3. File an amended Form U4 to close out the assignment to the main office.

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.