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CRD - FAQ - Form Filing for Firms

1. How do I submit form filings to Web CRD?

Upon completion of a filing, select the "Submit Filing" hyperlink on the left-hand margin. By selecting this hyperlink, a completeness check will automatically run. If the completeness check is successful, a "Submit Filing" button will display. It is very important to select this button to actually submit the filing to Web CRD. Once this button has been selected, a message will display that the filing has been Successfully Queued for Submission. At this time an "OK" button will be displayed. You may select this "OK" button to submit another form filing or perform other actions in Web CRD.

2. How long does a filing remain "pending" in Web CRD?

"Pending" U4, U5, BDW and U6 filings will remain "pending" in Web CRD for a period of two (2) months, and "pending" BD filings will remain for six (6) months. If they are not submitted during that timeframe, the system will automatically delete them after they reach their expiration date. It is important to review your Pending Filing Queue on a regular basis to ensure that pending filings are completed and submitted prior to Web CRD deleting the pending filing. You can retrieve your pending filings by selecting the Forms Menu Item, selecting a filing type sub menu item (U4, U5, BD, BDW or U6), and then selecting the Pending tab. Using the "Pending Filings Search Criteria" Screen, you can sort by Filing Creation Date in either Ascending or Descending order. You should review the filings with older Creation Dates in order to identify those that you wish to submit.

3. Where can I find the Web CRD "picklists" for the Uniform Registration Forms?

The picklists can be found on the Current Uniform Registration Forms for Electronic Filing in Web CRD page in the appropriate Instructions document.

4. Should titles (i.e., Mr., Ms., etc.) be captured in any of the name fields on the Uniform Forms?

When creating an individual and inputting the individual's name, DO NOT use titles such as Mr., Mrs., Ms., etc., in any of the name fields. As Web CRD cannot perform a completeness check on these fields since they are free text fields, the titles are stored as part of the name itself, which can prevent or delay a match when a name search is performed.

5. How do I go about changing my firm's name?

Section 1D of Form BD, Application Information, is for firms that are changing names, and it says check the box for Applicant Name (1A) or Business Name (1C). In most cases, firms are changing both, in which case they should select both boxes. See the Form BD Quick Reference Guide for additional navigational instructions.

FINRA-registered firms should contact Disclosure Review prior to changing their names as they must receive approval before submitting a Form BD. See the Firm Name Guidelines page for more information.

In addition, the name change will not take effect in Web CRD immediately; there is a 10-day "grace period" during which FINRA notifies the jurisdiction of the impending change.

6. Is it possible to post-date the opening of new branch offices?

No, new branch offices that are opening cannot be post-dated. Firms must wait until the day the branch opens to submit the Form BR. See the Branch Office Registration FAQ and Form BR Quick Reference Guide for more information.

7. How do I remove a person from Schedule A or B?

The first sentence that will appear on an existing control person's record is: "Check here to terminate this Owner." To remove a person from Schedule A or B, check the Check Box next to this sentence and select Save. Keep in mind that there must be at least one direct owner on Schedule A at all times. See the Form BD Quick Reference Guide for additional navigational information.

8. Does a trustee need to be listed on Schedule A and/or B?

If a trust is listed as a Direct Owner/Executive Officer on Schedule A, each trustee must also be listed on Schedule A.

If a trust is listed as an Indirect Owner on Schedule B, each trustee must also be listed on Schedule B.

9. When filing a Full BDW, can the "Custodian of Books and Records" be a firm?

For FINRA—registered firms, the Custodian of Books and Records must be an individual, not a firm. If you place a firm in that field, it will trigger a filing deficiency.

10. When responding to question 5 on Form BDW should I complete items A through D?

If question 5  is answered “Yes,” items A through D should be completed.

If question 5 is answered “No,”  no data is required in items A through D.