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2014040164801 3-20317 Sandeep Varma CRD 1926613 SEC Decision jlg (2023-1694737208188).pdf

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 98102 / August 10, 2023 Admin. Proc. File No. 3-20317 In the Matter of the Application of SANDEEP VARMA For Review of Action Taken by FINRA OPINION OF THE COMMISSION REGISTERED SECURITIES ASSOCIATION – REVIEW OF FINRA ACTION Associated person of FINRA member firm filed application for review of FINRA’s denial of his request to expunge information about a Letter of Acceptance, Waiver, and Consent from FINRA’s Central Registration Depository.

August 2023

22-02756.pdf

Ensure Discrepancies are Reported or Balance is Paid

Firms must submit any amount owed on the Final Statement to FINRA by this day. Money can be deposited directly into the Renewal Account, or firms can rely on FINRA to transfer funds from the firm's Flex-Funding Account beginning Jan. 26. In order to take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding Account. See the Renewal Payment Options page for more information.

Retrieve and Schedule Payment for the Final Statement in E-Bill

Final Statements are available in E-Bill on Jan. 2.

Preliminary Statement reports are replaced with Final Statement reports in CRD/IARD.

Many firms find it convenient to schedule any required payment while logged in to E-Bill to retrieve the statement. If additional payment is not required, the Final Statement will reflect "Paid in Full." Any overpayment FINRA received from a firm is now available in the firm’s Flex-Funding Account.

Submit Filings Before the 2023 Deadline at 6 p.m. ET

The CRD/IARD system shuts down for the year at 6 p.m. on Dec. 26. Firms should ensure that they perform the following activities before the shutdown occurs:

Ensure Full Payment is Available in Renewal or Flex-Funding Account by This Date

FINRA-registered firms should ensure payment is received and posted to your account by this day. Money can be deposited directly into your firm’s Renewal Account, or firms may rely on FINRA to transfer the money from your firm's Flex-Funding Account that begins Dec. 11. In order to take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding Account. See the Renewal Payment Options page for more information.

Mass Transfer Moratorium

A mass transfer is used to systematically transfer individuals and branch offices from one firm to another firm as a result of a merger, acquisition, succession or consolidation. Nov. 27, 2023, is the last day firms will be able to request that a mass transfer occur this year. There will be a moratorium on mass transfer processing from Dec. 18, 2023, through Jan. 2, 2024.

Retrieve (and Schedule Payment for) the Preliminary Statement in E-Bill

Preliminary Statements are available in E-Bill beginning Nov. 6. Many firms find it convenient to submit or schedule their payment while logged in to E-Bill to retrieve the statement. Preliminary Statement reports are also available in CRD and IARD. Be sure to save or print reports before Final Statements are generated.

Begin Preparing Post-Dated Forms BDW and ADV-W

Starting Nov. 1, firms can initiate Forms BDW and ADV-W filings with a termination date of Dec. 31. Submitting these filings allows firms to request termination of registrations in advance. Registrations terminated through these post-dated filings before Preliminary Statements are generated will not be included.

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