Failure to timely update information on an individual form U4 may lead to potential fines and suspensions for a registered person, especially if the act is willful. Examinations and sweeps performed by FINRA generally reveal exceptions.
The 2019 FINRA Renewal Program for Broker-Dealers, Investment Adviser Firms, Investment Adviser Agents, Investment Adviser Representatives, and Branches is scheduled to begin on November 12, 2018.
Firms should note the following key dates in the renewal process:
- November 12, 2018 – Preliminary statements are available via the E-Bill section of WebCRD. Preliminary statements are not mailed to firms.
- December 17, 2018 – Full payment of Preliminary Statements is due.
- January 2, 2019 – Final Statements are available via the E-Bill section of WebCRD.
- January 21, 2019 – Full Payment of Final Statements is due.