FINRA notified firms that the annual registration Renewal Program begins on November 11, 2019. Preliminary fee statements will be available for firms at that time. FINRA advised broker-dealers that if they fail to pay the full amounts owed on their Preliminary Statements by December 16, 2019, they will be subject to late fees, and may be ineligible to do business in the jurisdictions where they are registered.
FINRA provided the following key dates for the renewal process:
- October 21, 2019: Firms may begin submitting postdated Form U5 and BR Closing/Withdrawal filings through Web CRD/IARD;
- November 1, 2019: Firms may begin submitting postdated Form BDW and ADV-W filings through Web CRD/IARD;
- November 11, 2019: Preliminary Statements will be made available in E-Bill;
- December 16, 2019: Full payment of amounts in Preliminary Statements is due;
- January 2, 2020: Final Statements will be made available in E-Bill; and
- January 17, 2020: Full payment of amounts in Final Statements is due.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
