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Product LoginThursday, February 4, 2016
Equity Regulatory Alert #2016 - 1
Filing of Annual Audits
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OverviewEffective February 2, 2016, The Nasdaq Stock Market, Nasdaq PHLX, and Nasdaq BX (collectively “Nasdaq”) members are to submit their annual audit reports through FINRA’s Firm Gateway platform. What has been announcedNasdaq reminds members of their obligation under SEC Rule 17a-5(d) as well as Nasdaq Rule 4140A, PHLX Rule 712, and Nasdaq BX Rule 4140A to file annual audit reports with all self-regulatory organizations to which such members belong. SEC Rule 17a-5(d)(6) states: The annual audit report must be filed at the regional office of the Commission for the region in which the broker or dealer has its principal place of business, the Commission’s principal office in Washington, DC, the principal office of the designated examining authority for the broker or dealer, and with the Securities Investor Protection Corporation (“SIPC”) if the broker or dealer is a member of SIPC. Copies of the reports must be provided to all self-regulatory organizations of which the broker or dealer is a member, unless the self-regulatory organization by rule waives this requirement Nasdaq members’ obligation to this rule has not changed, but members are now required to submit their annual audit reports in electronic form via FINRA’s Firm Gateway. This change is effective for annual audit reports covering a fiscal year ending on or after December 31, 2015. Nasdaq members are no longer required to submit annual audit reports directly to the Exchange. This new process allows Nasdaq members who are members of more than one Nasdaq exchange the ability to submit one annual audit which satisfies their filing obligation for all three Nasdaq exchanges. Firms must use their current FINRA entitlement user ID and password to access the Firm Gateway to submit financial notifications and subordination requests. Firm personnel should contact their firm’s Super Account Administrator (SAA) with any questions regarding how to access the Firm Gateway. For Firm Gateway technical questions, contact FINRA’s Technical Support Group at (301) 869-6699. |
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