Firms are required annually to renew their FINRA, other self-regulatory organization (SRO) and state/jurisdiction registrations through the annual Renewal Program, which begins in the fourth quarter of each year.
Many firms will from time to time seek to expand their business by, for example, adding a new line of business or substantially increasing the scope and size of their existing business that may or may not require a Continuing Membership Application (CMA) for FINRA's approval.
When contemplating a change to its business activities or operations, a firm should think about whether the proposed
To conduct securities transactions and business with the investing public in the United States, both firms and individuals must be registered. Those who wish to become registered must file Form BD (the Uniform Application for Broker-Dealer Registration) with the SEC, appropriate self-regulatory organizations (SROs), including FINRA, and jurisdictions.
Form BD must first be submitted
Current FINRA members seeking to change ownership, control, or business operations must submit a continuing member application, or Form CMA. Form BD amendments may be required for some of these Form CMA-triggering events.On This PageWhen to File a CMAWhat to include in a CMARemoval or Modification of a Restriction on a Membership AgreementAfter Filing a CMAWhen to File a CMAWhen current FINRA
To conduct securities transactions and business with the investing public in the United States, both firms and individuals must be registered with FINRA. Firms must apply and meet certain membership standards, FINRA’s 14 Standards of Admission in FINRA Rule 1014(a), to become a FINRA-registered broker-dealer. The New Member Application Form (Form NMA) is used by FINRA’s Membership Application
Representatives of broker-dealers, investment advisers or issuers of securities must use the Form U4 (Uniform Application for Securities Industry Registration or Transfer) to be registered with the appropriate jurisdictions and/or self-regulatory organizations (SROs). FINRA, other SROs and jurisdictions use the Form U4 to elicit employment history, disciplinary and other information about individuals to register them.
For the period of 6/1/2025 through 6/30/2025AARQ SECURITIESARQ SECURITIESNAME CHANGED TO: LIQUIDITY.IO, LLCARQ SECURITIESLIQUIDITY.IO, LLCNEW NAME OF: ARQ SECURITIESBBLUE QUARTZ INVEBLUE QUARTZ INVESTMENTS6424 DASH POINT BLVD NE, TACOMA, WA 98422ADMITTEDBRIDGEWAY SECURIBRIDGEWAY SECURITIES1 CHISHOLM TRAIL RD, SUITE 450, ROUND ROCK, TX 78681ADMITTEDCCAPTIVEX SECURITCAPTIVEX SECURITIES LLC67 HOLLY
The Series 28 exam — the Introducing Broker-Dealer Financial and Operations Principal Qualification Exam (FI) — assesses the competency of an entry-level principal to perform their job as a financial and operations principal in an introducing broker-dealer that does not carry customer accounts or hold customer funds or securities.
Regulators submit Form U6 filings to report disclosure events and disciplinary actions against individuals and organizations. FINRA also uses the form to report final arbitration awards against broker-dealers and associated persons.
Firms have an obligation to report U6 information on the appropriate registration form filing.
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Firm Reporting Obligations
New member firms must file certain retail communications prior to first use with FINRA’s Advertising Regulation Department. A retail communication, as defined in FINRA Rule 2210, means any written (including electronic) communication that is distributed or made available to more than 25 retail investors within any 30 calendar-day period.
