Central Registration Depository (CRD)

Announcements

• CRD and IARD Release Notes 2021.07
  View an explanation of changes to Classic CRD and IARD implemented on July 31, 2021.
   
• New York IA Representative Registration – Updated July 23, 2021
  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. However, it is recommended that firms not use EFT to request NY IAR registrations until the transition is completed. The system will go back to the default requirements on September 7.
   
  • From February 1 until July 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.
       
  • 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.
   
• FINRA's 2021 Entitlement User Account Certification Process
  FINRA's Annual User Accounts Certification Period concluded July 19, 2021. Super Account Administrators for organizations with more than one user and/or administrator account that have not yet certified must do so immediately. The ability to create, edit and clone accounts has been disabled and will remain so until certification is completed. Failure to certify will result in the appropriate regulator(s) being contacted and the disabling of all accounts. For detailed information, refer to the Annual Entitlement User Accounts Certification Process page.