Optional Form U4 E-Signature and CE Notification Features Available in FINRA Gateway
Effective September 25, firms can now enable two new optional features in FINRA Gateway’s Firm Settings. Registered securities professionals with FinPro accounts can now receive auto-generated email reminders about their regulatory element CE requirement as well as electronically sign their Form U4 filings.
You must be registered with FINRA if you’re engaged in the securities business of your firm, which includes salespersons, branch managers, department supervisors, partners, officers and directors. You are required to pass qualification exams to demonstrate competence in your particular securities activities. The Guide to Your Securities Industry Career offers a comprehensive outline of the registration process and the responsibilities of representatives to their firms and customers.
The appropriate registration documents must be filed through the Central Registration Depository (CRD) program to request registration. If necessary, candidates must also pass a qualification exam.
Firms and registered individuals have a continuing obligation to update Form U4 promptly if any information changes or becomes inaccurate, such as disclosure events and outside business activities.
Firms must file a Form U5 within 30 days and provide the individual with a copy for their personal records. The form indicates the employment end date and the reason. Some individuals may continue working for the firm in a non-registered capacity after the submission of a Form U5.
Firms are required to renew the FINRA and state/jurisdiction registrations of their registered reps every year.
Due to the coronavirus pandemic (COVID-19), FINRA is providing temporary relief for member firms from rules and requirements in the Frequently Asked Questions below. The relief provided does not extend beyond the identified rules and requirements. FINRA will continue to monitor the situation to determine whether additional guidance and relief may be appropriate. As coronavirus-related risks decrease, member firms should expect to return to meeting any regulatory obligations for which relief has been provided.March 24, 2020
- 2018 Exam Findings ReportThe Operations Professional Registration section of the 2018 Report on Exam Findings informs member firms’ compliance programs by describing recent findings and observations from FINRA’s examinations, and, in certain cases, also providing a summary of effective practices.December 07, 2018
- GuidanceFINRA provides registration and licensing relief to FINRA-registered persons and certain formerly registered persons who volunteer or are called into active military duty.
The FINRA qualification and registration requirements are set forth in FINRA Rules 1210 through 1240.1 These rules, among other things: (1) require the registration of individuals as representatives or principals; (2) allow for the permissive registration of associated persons of firms; (3) establish a waiver program for individuals working for a financial services industry affiliate of a member firm; (4) require firms to designate a Principal Financial Officer and a Principal Operations Officer; and (5) set forth requirements for registered persons who are to function as princip
- Compliance Tools
The Web CRD Late Filing Fee Report is a monthly analysis of FINRA firms' ability to meet certain filing obligations. In accordance with FINRA rules, firms are required to submit information related to registered representatives. This report displays a firm's performance in submitting certain U4 and U5 filings in the required time frame.
- FAQ1. How do I register for the Financial Professional Gateway (FinPro)? Use the following steps to register:
- FAQFollowing are FAQs about FINRA registration and qualification requirements. Click on the links below to view all sections of the FAQs.
- Compliance Tools
The Web CRD Form BD Timeliness Report Card is a monthly analysis of FINRA firms' ability to meet certain filing obligations. In accordance with FINRA rules, firms are required to submit information related to applicant member and/or affiliate(s). This report displays a firm's performance in submitting certain BD amendment filings in the required time frame.
- FAQThe following questions and answers provide guidance regarding the operation of FINRA Rule 2080, which was formerly NASD Rule 2130.