Are you applying for FINRA Membership and need to complete a FINRA New Member Application? Find out what you need to complete your application
Are you considering filing for FINRA membership? Do you need to complete a FINRA New Member Application? If you are thinking about starting a broker dealer, you must complete a FINRA new member application, and there are a few things you need to be aware of before proceeding. The first thing to consider is if you actually want to pursue this avenue at all. Some other options besides filing a FINRA New Member Application is to partner with an existing FINRA member broker dealer and open a new branch office as part of that existing broker dealer. Another option is to purchase an existing broker dealer and file a 1017 change in ownership application; however, FINRA has changed the 1017 process making it increasingly more difficult for broker dealers to get approved when purchasing an existing broker dealer. The process is so cumbersome that it is comparable to completing the New Member Application process with FINRA.
If you have decided however that you will definitely be completing a FINRA new member application then you will need help. If you try to apply for a FINRA membership without help it could spell disaster as this could delay your FINRA membership or jeopardize your membership all together. There are numerous and comprehensive steps to put together a complete FINRA new member application with even more steps added for 2010.
The Written Supervisory Procedures checklist alone, (WSP checklist) is an exhaustive process and failure to submit this document correctly could automatically ruin your chances at becoming a new FINRA member. The best way to avoid thes issues is to hire a professional compliance firm to help you through the FINRA new member application process.
Firstly, a compliance consulting firm will be able to consult you on what your best options are and help you decide if applying for a FINRA new member application is really the best answer based on your experience, regulatory history, and the types of business you’d like to conduct. Secondly, if a broker dealer compliance firm decides that applying for a FINRA new member application is the best move, they will help you wade through the ocean of paperwork that now needs to be tended. And lastly a compliance firm will stand behind all of their work and serve as your advocate to FINRA during the application process. It is easy to see what the advantages are to hiring a compliance firm to handle your FINRA New Member Application.
If you are ready to hire a FINRA compliance firm to help you start the FINRA New Member Application process then the next question becomes which compliance consulting firm is the best one for the job?
The best compliance consulting firm for the job is the compliance firm who has the experience specifically with Broker Dealer Compliance and offers the with processing FINRA New Member Application as one of their core services. A compliance consulting firm who meets these requirements will be the best one to help you with your FINRA new member application.
If you would like to contact such a compliance firm then fill in the form to the right of the page or call the number at the top of the page. Remember that if you have decided that starting a FINRA NewMember Application is the direction that you want to go then you need to consult with a compliance consulting firm to make sure that the process moves smoothly and with the least amount of problems or delays.
