Central Registration Depository (CRD)

Announcements

• Additional registration categories for Cboe and Cboe C2 available July 1
  Beginning July 1, 2021, Cboe Options and C2 Options exchanges will recognize additional registration categories. Entitled users will have the ability to submit Forms U4 and U5 to add or terminate the registration categories for Compliance Officer (CR) and General Securities Principal (GP). For regulatory or policy questions, please see the Cboe Regulatory Circular 21-010. This and other updates, if any, are available on the Cboe Options Exchange Circulars page.
   
• CRD and IARD Release Notes 2021.05
  View an explanation of changes to Classic CRD and IARD implemented on May 17, 2021.
   
• Qualification Exam Enrollment Windows Extended Through June 30, 2021
  For exams other than the SIE, Series 6 and Series 7, FINRA and the MSRB will extend all enrollment windows that are currently expired, or will expire, between March 16, 2020 and June 30, 2021. FINRA and the MSRB exam enrollment end dates will be extended through the same end date of June 30, 2021. For the full announcement, see FINRA's COVID Updates page.
   
• Online Testing for Additional FINRA Exams
  To address the ongoing challenges facing exam candidates by the COVID-19 pandemic, FINRA is adopting an interim accommodation request process to allow candidates to take additional FINRA exams online, including the Series 24, Series 57, Series 79 and Series 99 exams. This change is effective on February 24, 2021. An interim accommodation request is not required for the Securities Industry Essentials (SIE), Series 6 or Series 7 exams, which have been available online for all candidates since mid-July 2020. View the full announcement for complete information.
   
• FINRA's 2021 Entitlement User Account Certification Process
  FINRA's 2021 User Accounts Certification Process for Super Account Administrators (SAAs) is scheduled for April 19, 2021 – July 19, 2021. During this period, SAAs for firms with more than one user and/or administrator account must certify that authorized users are only entitled to those privileges necessary to perform their job responsibilities on the FINRA Entitlement platform or remove access if no longer required. Organizations with only an SAA account and no other users or administrators have the option to certify, but are not required, unless the firm has access to the Consolidated Audit Trail (CAT). Firms with one or more accounts with access to CAT must certify.
   
• New York IA Representative Registration
  • Effective February 1, 2021, the State of New York (NY) began registering Investment Adviser Representatives (IARs) in CRD. On February 1, Forms U4 and U5 were updated to allow firms to select, under Section 5 of Form U4, RA registration in NY. Web EFT was also updated but there were no schema changes as the result of this update.
     
  • From February 1 until June 30, 2021, NY will offer both noticed and registered NY investment adviser firms an offline "mass registration" process in an effort to help facilitate bulk RA registration. Firms with 20 or more IAR applicants, who are currently registered on CRD with your firm in another capacity (e.g., GS, AG, RA in another jurisdiction) and who satisfy NY’s RA exam or exam waiver requirements, may take advantage of this process. By utilizing this off-system process, firms can ensure that NASAA’s Series 65 examination windows/enrollments will not systematically generate in CRD for those individuals who may otherwise be waived by NY from taking (or re-taking) the Series 65.
     
  • FINRA Gateway Reports now offers templates designed to support firms throughout the NY RA registration process. The four new report templates identify individuals who: 
    • may be subject to the registration requirement, 
    • have a NY RA registration requested, 
    • have an approved NY RA registration and
    • have opened an exam enrollment.
       

    Please note that the Reports feature is only available to broker-dealer firms, including firms dually registered as both a broker-dealer and an investment adviser (IA). IA-only firms cannot currently access this feature.

  • Beginning February 27, 2021, CRD was temporarily updated so that windows for NASAA's Series 65 examination will not systematically open when NY RA is the only registration requested on the filing (selection of other RA registrations will trigger any necessary exam requirements). If an individual requesting NY RA needs to take the Series 65, the firm will need to explicitly select the exam in Section 7 of Form U4 in order for the enrollment/window to be generated and the applicable fee to be charged. The automatic generation of Series 65 enrollments/windows when NY RA is requested will be re-enabled at a future time.
     

  For specific information regarding NY’s mass registration process, please contact [email protected]. Please check the OAG's website for guidance on the new rules.