In updated FAQs on its Renewal Program, FINRA reminded broker-dealer firms on deadlines associated with Preliminary Statements, form filings and branch office fees. FINRA highlighted that a firm's payment for the Preliminary Statement must be posted by December 13, 2021.
Among other FAQs, FINRA stated that:
- Preliminary Statements will be available on November 8, 2021, and Final Statements on January 2, 2022;
- Forms U4 and U5 are now available in FINRA Gateway, but can only be submitted during the classic central registration depository hours of availability;
- FINRA's branch office processing fees will increase from $20 to $75 on January 1, 2022, as amended by SR-FINRA-2020-032;
- the renewal process is not complete until reconciliation between the firm's Preliminary Statement and its Final Statement, which identifies any new registration changes that occurred between November 8, 2021 and year's end;
- it will transfer funds from a firm's Flex-Funding Account to its Renewal Account to satisfy the firm's renewal fees between December 13, 2021 and December 26, 2021;
- a firm must file its forms to CRD/IARD by 6 p.m. on December 26, 2021; and
- if a firm does not pay its Preliminary Statement before the CRD/IARD deadline, the firm cannot conduct business beginning January 1, 2022.
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