News | 03.25.20
FINRA Extends Exam Window, Annual Report Filing
FINRA has announced regulatory refief measure designed to help companies struggling during the coronavirus pandemic. The regulator says it will expire its qualification exam windows until May 31 and giving broker-dealers a 30-day extension to file their annual reports. Firms will also be allowed to electronically file an initial or transfer Form U4 without obtaining the individual applicant’s manual signature. To do so a company must: provide the applicant with a copy of the completed Form U4 prior to filing; obtain the applicant’s written acknowledgment (which may be electronic) prior to filing that the information has been received and reviewed, and that the applicant agrees that the content is accurate and complete; retain the written acknowledgment in accordance with SEA Rule 17a-4(e)(1) and makes it available promptly upon regulatory request; and obtain the applicant’s manual signature as soon as practicable.
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