Register a New Candidate
Firms must register any person engaged in the securities business of the firm by filing the appropriate registration application online through the Central Registration Depository CRD) Program to become registered with FINRA, the appropriate jurisdictions and/or self-regulatory organizations.
CRD Is Moving to FINRA Gateway: Form U4, Form U5 and Disclosure Letters
FINRA is integrating the registration filing functionality that supports the CRD Program into FINRA Gateway. The deployment of registration compliance tools will be incremental over time, so firms should expect to use both Classic CRD and FINRA Gateway until the integration is complete. Key dates and details will be highlighted in this space throughout the transition:
- April 5: The ability to draft and submit Form U4 retires in both Classic CRD and the Anonymous CRD Registered Representative site.
- May 1: Disclosure letters available in FINRA Gateway Requests.
- May 15: Last day to retrieve read-only versions of invalidated draft U4s in Classic CRD
- May 17: Form U5 comes to FINRA Gateway.
Besides Form U4, Classic CRD will continue to support all other features and tools — including Form U5 and disclosure letters. See the Registration Filing in FINRA Gateway page for more details.
Registered representatives and firms have a continuing obligation to promptly update an individual’s registration whenever an event or proceeding occurs to render a previous response inaccurate or incomplete.
Test Enrollment Services System (TESSTM) should be used by individuals who are not employed or associated with firms, and as part of the registration process they have been required by a regulatory authority to qualify by examination, but are not required to file a Form U4.
Non-FINRA firms should check with the regulatory authority with whom the individual is requesting registration to determine whether or not a Form U4 must be filed.
Applicable examination fees and registration-related fees are assessed with form filings submitted through CRD. Non-FINRA firm candidates will be assessed fees for their qualification exams at the time of enrollment request.
FINRA, in exceptional cases, may waive qualification examinations and accept other standards as evidence of an applicant’s qualification for registration. Waiver requests must be filed electronically via the Firm Gateway.
The status of a registration request is communicated in CRD with status codes.
Qualification exams are assigned a registration code.
Withdrawing an Individual Application (Form U5)
To voluntarily withdraw a Form U4 application filed on behalf of a registered individual, an Applicant (and member firm) should file Form U5 (the Uniform Termination Notice for Securities Industry Registration) electronically via Web CRD. A $40 filing fee automatically will be deducted from the firm's CRD account once filed. A copy of Form U5 is available on Registration Forms page of FINRA's Web site. See Article V, Section 3 of FINRA By-Laws regarding the member firm's obligation to notify FINRA and the associated person of the termination, and the continuing obligation of the member firm to update the Form U5 after termination.