New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL
Subchapter A - SECURITIES-GENERAL
Part 10 - BROKERS, DEALERS AND SALESPERSONS
Section 10.6 - Alternative method of filing supplemental salesperson's and broker-dealer statements and fees attendant thereto
Current through Register Vol. 46, No. 12, March 20, 2024
(a) The requirements of sections 10.3 and 10.4 of this Part shall be fulfilled through the CRD system with regard to a firm that is a member of FINRA and its salespersons.
(b) The filing of supplemental or amendatory information with the CRD system. shall be made on current Forms U4, U5, B D or BDW only. No fee is required to report a change of information on a Form BD or to terminate a registration on Form BDW. The filing of a single Form U4 to report the change of employment of a salesperson shall be deemed to satisfy the requirements of section 10.3(a)(4) of this Part.
(c) All filings that, pursuant to sections 10.3(a)(4) and 10.4(a)(4), report a change of employment to a new broker-dealer will require a fee of $ 60.
(d) In the event of a mass transfer of employment from one FINRA member firm to another caused by acquisition, merger or change of entity, the CRD system shall execute said transfer in accordance with the guidelines established for such by the CRD system. All such mass transfers will require the payment of a $ 30 fee by the broker-dealer and a $ 30 fee f or each salesperson transferred, payable through the CRD system.
