FINRA Proposes Amendments To FOCUS Report Supplemental Inventory Schedule

FINRA proposed amendments to the Supplemental Inventory Schedule ("SIS"), pursuant to FINRA Rule 4524 ("Supplemental FOCUS Information"). Under the proposed amendments members that file FOCUS Report Part II (containing annual audit reports) would not be required to file the SIS. FINRA stated that Schedule 1 to FOCUS Report Part II, as amended by December 2019 reporting requirements, includes "substantially all the information that is required by the SIS."

The amendments have a proposed immediate effective date, and a proposed implementation date, of October 31, 2021. Comments must be submitted within 21 days of the proposal's publication in the Federal Register.

Primary Sources

1. SR-FINRA-2021-013: Proposed Rule Change to Amend the Supplemental Inventory Schedule pursuant to FINRA Rule 4524 ("Supplemental FOCUS Information")

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