FINRA Amends Rule Requiring the Reporting of Bad Events

FINRA has amended Rule 4530 (Reporting Requirements) to provide member firms:

• an exception for reporting information that is reported on the Form U4;
• an exception for reporting findings and actions by FINRA; and
• the option of filing required documents online using a new form.

The implementation date for the exception for reporting information that is reported on the Form U4 (Rule 4530(e)) and the exception for reporting findings and actions by FINRA (Rule 4530.10) is March 4, 2013. The implementation date for the option of filing required documents online using the new form (Rule 4530(g)) is July 1, 2013.

The text of the amendment is set forth in Attachment A. The data fields in the new form are set forth in Attachment B.

See: Regulatory Notice 13-08.