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:
- May 1: Enhanced individual 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.
Form U5, individual disclosure letters and several reports in Classic CRD are scheduled to retire on August 21. Retirement dates for other functionality will be announced as they become available. See the Registration Filing in FINRA Gateway page for more details.
Firms registered with one or more CRD-participating regulators must file a Form U4 (Uniform Application for Securities Industry Registration or Transfer Form) for each individual who will perform particular activities on behalf of the firm.
Test Enrollment Services System (TESSTM) should be used by individuals who are not associated with a firm in CRD. TESS allows individuals to self-enroll for a FINRA-administered qualification exam or continuing education (CE) session. Individuals who hold an active registration in CRD with a firm cannot use this system.
Generally, individuals who use TESS fall into one of the following categories:
- they are not employed or associated with a firm, or
- they are employed by a firm and required to enroll for a FINRA-administered exam or CE by a regulatory authority, but their firm association is not captured in CRD.
Jurisdictions and SROs that participate in CRD are listed in the SRO/Jurisdiction Fee and Setting Schedule.
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.
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 to CRD. A filing fee will be deducted from the firm's CRD account once filed. 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.