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Quadrant is well-versed in navigating the application process. We understand that dealing with requests from regulatory bodies such as FINRA, the SEC, or state regulators can be overwhelming. However, rest assured that our team is proficient in these applications and will work closely with your firm throughout the NMA and CMA process. We will address regulatory requests promptly and efficiently, ensuring a smooth and hassle-free experience for your firm.

FINRA Application

New Membership

In order to become a member of FINRA, your firm is required to submit an NMA, and upon submission, it normally takes 120-180 days to complete. It is very important to provide FINRA with complete and accurate information in the initial application, as this will reduce the items subsequently requested by FINRA to complete the process.

Below are some of the services that we provide for firms interested in becoming new FINRA members:

  • Apply for and obtain approval of your firm’s name, and ensure the general account is funded
  • Complete and submit required hardcopy forms to FINRA including the Form BD, Super Account Administrator Entitlement Form, E-mail Notification Contact Form, and New Assessment Report
  • Access the FINRA Gateway to review the Membership Application, complete and submit Forms U-4 and BR, and complete and submit the Form NMA
  • Monitor the application process and respond timely to inquiries of FINRA staff
  • Act as a liaison between you and the FINRA examiner assigned to your application
FINRA Application

Continuing Membership

Whenever your firm changes its business lines, adds new representatives or branches beyond the safe harbor, changes its ownership structure, or other material changes, FINRA requires you to file a CMA. Your firm may be required to file a CMA whenever you seek to modify or remove restrictions previously imposed in a Membership Agreement. Quadrant can either provide guidance to your firm’s compliance officer with the process or complete the entire application on your behalf.

Below are services that we provide for firms interested in changing ownership, control, or business operations:

  • Prepare the CMA
  • Ensure the application meets FINRA Rule 1014 standards
  • Liaise with FINRA’s Membership Application Program Department to facilitate the application
  • Review the new Membership Agreement to ensure it contains the requested modifications

How Can We Help?

Get in touch with us to learn how our team of experienced compliance & accounting professionals, and former SEC and FINRA regulators, can ensure you reach your goals.

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