FINRA says it is proposing to cut out many of the administrative delays involved with applications for continuing membership.

Firms file continuing membership applications to reflect material changes in a firm’s business operations, such as ownership or control, according to a proposed rule change that FINRA has filed with the SEC. Currently, broker-dealers typically exchange letters with FINRA to initiate and continue the continuing membership application process, says Todd Cipperman, principal of Cipperman & Co., a law firm in Wayne, Penn.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access