Important Annual Regulatory Certifications – Rule 4517

Posted on by SCM Communications

FINRA Rule 4517 – Member Filing and Contact Information Requirements

FINRA Rule 4517 requires member broker-dealers to report and update to FINRA all contact information required by FINRA via Firm Gateway.  Specifically, each registered broker-dealer is required to report and update all contact information required by FINRA via the Firm Gateway.  Additionally, broker-dealers must update its required contact information promptly, but in any event not later than 30 days following any change in such information.

Lastly, member firms must review and, if necessary, update its required contact information within 17 business days after the end of each calendar year.  This year’s deadline is January 26th, 2017.

Once you have logged into the Firm Gateway, click on Firm Profile, and then Annual Review.  From this screen, all you will need to do is review the required information, type in your name, and hit submit.

MSRB Rule A-12 – Registration

MSRB Rule A-12 discusses the MSRB’s requirements related to the registration of its member.  Some of these requirements relate to the reporting requirements entailed on Form A-12.  Paragraph (k) of Rule A-12 discusses a member’s obligation to complete an annual affirmation of the Firm’s information in Form A-12.

Specifically, pursuant to MSRB Rule A-12, every broker-dealer and/or municipal advisor registered with the MSRB are required each January to affirm or correct their registration information in MSRB Form A-12.  The MSRB’s annual affirmation period opened on January 1st, 2017 and concludes January 26th, 2017.  During the affirmation period, the primary or optional regulatory contact or the compliance contact for each registered firm must log into MSRB Gateway to ensure their organization’s Form A-12 is accurate and up to date.  If no updates are required, the appropriate contact can affirm the information by submitting Form A-12 with no changes.  All updates and affirmations must be completed by January 26th, 2017.

It is important that all members of FINRA and the MSRB complete these annual certifications timely as regulators will likely review the timeliness of such certifications during their routine examinations.