Learn How to Become a FINRA Member Firm: Membership Application Program and Continuing Membership Application Program

Membership Application Program - MAP Triage

This video addresses the MAP intake process, including Triage’s role, and highlights items that should be provided upon initial submission in order for an application to be deemed substantially complete.

Membership Application Program - Licensing + Registration
This video addresses licensing, registration and experience requirements, as well considerations regarding whether the applicant and its associated persons are capable of complying with applicable securities laws and regulations, and with applicable FINRA rules, including observing high standards of commercial honor and just and equitable principles of trade. This video encompasses FINRA Rules 1014(a)(2), (a)(3), and (a)(10).

Membership Application Program - Contractual or Other Arrangements and Business Relationships
This video addresses contractual and other business relationships with banks, clearing corporations, or others as it pertains to an Applicant’s proposed business activities. The video also addresses rule requirements and best practices for an applicant’s compliance, supervisory, operational, and internal control practices, as well as continuing education for associated persons. This video encompasses FINRA Rules 1014(a)(4), (a)(9), and (a)(12).

Membership Application Program - Communications and Operational Systems
This video addresses the communications and operational systems that the Applicant intends to employ for the purpose of conducting its business, capital requirements pursuant to SEA Rule 15c3-1, and financial controls to ensure compliance with the federal securities laws, the rules and regulations thereunder, and FINRA rules. This video encompasses FINRA Rules 1014(a)(6), (a)(7), and (a)(8) for non-carrying/clearing applicants.

Membership Application Program - Operational Systems, Financial Statement Proformas, and Liquidity
This video addresses the communications and operational systems that the applicant intends to employ for the purpose of conducting its business, capital requirements pursuant to SEA Rule 15c3-1, and financial controls to ensure compliance with the federal securities laws, the rules and regulations thereunder, and FINRA rules. This video encompasses FINRA Rule 1014(a)(6), (a)(7), and (a)(8) for carrying/clearing applicants.