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Tuesday, October 21, 2014

Options Regulatory Alert #2014 - 40
Electronic Submission of Annual Audit Reports


  • Regulatory

Markets Impacted:

Contact Information:


Registered broker-dealers for whom PHLX is the Designated Examining Authority (“DEA”) must now submit electronically the annual audit reports that are required pursuant to Securities Exchange Act (“SEA”) Rule 17a-5.

The annual audit report must be submitted as a Portable Document Format (“PDF”) file via the FINRA Gateway electronic filing platform.

This is a change from the hard copy format in which they are currently submitted and will be in effect for annual audit reports covering a fiscal year ending on or after December 31, 2014.

SEA Rule 17a-5(d) requires, among other things, that every broker or dealer registered pursuant to SEA Section 15 must file an annual audit report, unless otherwise exempt, at the principal office of the member organization’s DEA.

Member organizations are now required to submit their annual audit report in electronic form via FINRA’s Firm Gateway. The required format of the filing is PDF. The electronic submission screen on the Firm Gateway will include a list of documents that, if applicable, are required. This list will assist member organizations in ensuring that all required schedules are included in its submission. Member organizations should refer to SEA Rule 17a-5 for information regarding broker-dealer annual audit report requirements.

Members must submit their annual audit report electronically through the FINRA Gateway filing platform.

FINRA will assist the impacted member organizations in obtaining the appropriate FINRA Gateway entitlements needed to make these electronic filings. Member organizations will use their current FINRA entitlement user ID and password to access the Firm Gateway and submit their annual audit report. Member organization personnel should be advised to contact their respective Super Account Administrator (SAA) with any questions regarding how to access the Firm Gateway.

For Firm Gateway technical questions, member organizations should contact FINRA’s Technical Support Group at +1 301 869 6699.


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