Reminder: Form U4 Residential Supervisory Locations (RSL) Responses Due Dec. 26

November 20, 2024

Features
  • Reminder: Form U4 Residential Supervisory Locations (RSL) Responses Due Dec. 26 
    Firms must provide by Dec. 26 a “yes” or “no” response to the RSL question on the Forms U4 for all associated people with an office-of-employment address reported as both a ”non-registered” (i.e., non-branch) location and a private residence for all locations established prior to Nov. 26 of this year. Read the FINRA alert and RSL FAQs for more information and view the quick reference guide for step-by-step instructions. 
     
  • ICYMI: Podcast on FINRA's Special Investigations Unit (SIU) 
    Tune in to the latest episode of FINRA Unscripted to hear how the SIU works to proactively identify and mitigate threats related to money laundering, market abuse and other fraud. 
     
  • Editor’s Note 
    The Weekly Update will not publish next week due to the Thanksgiving holiday.
Guidance, Upcoming Deadlines, Effective Dates
New
  • No new information.
Reminders
  • 2025 Renewals Program: Members can now view key dates and deadlines for FINRA’s 2025 Renewals Program for the collection and disbursement of fees. Preliminary Statements are available in E-Bill to view and print, and full payment of Preliminary Statement fees is due Dec. 9. 
     
  • National Adjudicatory Council (NAC) Call for Candidates: Firms will soon have the opportunity to vote to fill one large firm and one small firm seat on the NAC, choosing from either the FINRA Nominating Committee nominee for each seat or from candidates who satisfy the requirements to be added to the ballot. Anyone interested in becoming a candidate must first submit a completed candidate profile form to FINRA’s Corporate Secretary and then submit by Dec. 23 the required number of petitions in support of his or her nomination. 
     
  • Form U4 Functionality to Identify RSLs: See the feature above for details about the RSL question that must be submitted by Dec. 26. 
     
  • Remote Inspections Pilot Program Year Two Reminder: Firms have until Dec. 27 to opt-in to participate in the second year of the Remote Inspections Pilot Program, which runs Jan. 1, 2025 to Dec. 31, 2025. Read Regulatory Notice 24-02 and frequently asked questions for details. 
     
  • 2025 and Q1 2026 Report Filing Due Dates: Due dates have been announced for Annual Report, Financial and Operational Combined Uniform Single (FOCUS), Form Custody and supplemental FOCUS Report filings due in 2025 or the first quarter of 2026, the first of which is Jan. 27, 2025. As a reminder, these filings must be submitted electronically through FINRA Gateway. 
     
  • Comment on FINRA Requirements Governing Day Trading: FINRA is requesting comments from registered representatives, investors and other stakeholders on its requirements related to day trading. The request is part of FINRA's retrospective rule review to assess the effectiveness and efficiency of those requirements. The comment period ends Jan. 28, 2025. 
     
  • Amendments to FINRA Rule 3240: Updates to FINRA’s Borrowing From or Lending to Customers Rule go into effect April 28, 2025, strengthening the general prohibition against borrowing and lending arrangements between registered representatives and their customers, narrowing some exceptions, modernizing the “immediate family” definition and more.
Disciplinary Actions
FINRA publishes disciplinary actions to remind members of specific conduct that violates FINRA rules and may result in disciplinary action. The November 2024 Monthly Disciplinary Actions are available here.
Education and Compliance Programs      
 
2025 FINRA Annual Conference | May 13-15, 2025 | Washington, DC | Hybrid Event
 
Resources
Member Firm Hub – The latest guidance, resources, educational opportunities and more.
 
Membership Application Program (MAP) Tools – Guidance and other resources to help current members prepare for their continuing membership application (CMA) and new applicants prepare for a new member application (NMA).
 
FINRA101 – An investor-focused video series firms can leverage to help customers avoid scams, understand trusted contacts and more.
 
FINRA Unscripted – A biweekly podcast that discusses a range of topics important to the securities industry.
 
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About FINRA
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business with the public in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.
Regulatory Contacts
FINRA By-Laws require member firms to maintain an email account on behalf of their executive representatives, to facilitate firm notification of important information. In light of this, requests from executive representatives to be removed from this email list cannot be honored.
 
Firms wishing to change the name or email address of their executive representative or designated assistant should use the FINRA Contact System: http://www.finra.org/FCS.
 
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