Tag: Rule 17a-5

Exam Alert: FINRA requires firms to file SSOI supplement to FOCUS Reports

FINRA Rule 4524, which became effective on February 28, 2012, allows FINRA to require member firms to file supplemental reports to their Financial and Operational Combined Uniform Single (FOCUS) Report. Continue reading

FINRA Rule 4524, which became effective on February 28, 2012, allows FINRA to require member firms to file supplemental reports to their Financial and Operational Combined Uniform Single (FOCUS) Report.  FINRA will require firms to file the Supplemental Statement of Income (SSOI), which provides a more detailed breakdown of certain financials than the Statement of Income page of the FOCUS Report.  Firms that derive more than 10% of their revenues from unregistered offerings will be required to complete an Operational Page that requires additional information about each unregistered offering.  Firms will have to file the SSOI within 20 business days of the end of each calendar quarter, and the due date for the first required SSOI is October 26, 2012.

Source: FINRA Regulatory Notice 12-11

This alert applies to the Series 24, the Series 26 and the Series 99.

Exam Alert: FINRA to require electronic submission of annual audit reports

Effective November 8, 2011, FINRA will require annual audit reports to be submitted in electronic form. This is a change from the current rule, which requires hard copies to be submitted to FINRA. This change is only applicable to annual audit reports with a fiscal year end on or after September 30, 2011. Continue reading

Effective November 8, 2011, FINRA will require annual audit reports to be submitted in electronic form.  This is a change from the current rule, which requires hard copies to be submitted to FINRA.  This change is only applicable to annual audit reports with a fiscal year end on or after September 30, 2011.

Relevant to the Series 24 and Series 26 exams.

Source: FINRA Notice 11-46