FINRA Proposes Amendments to Electronic Filing Requirements

FINRA proposed amendments to allow firms to file uniform registration forms ("Form U4" Uniform Application for Securities Industry Registration or Transfer) with an electronic signature under FINRA Rule 1010 ("Electronic Filing Requirements for Uniform Forms"). The proposed amendments would remove references to "manual" signatures. FINRA also proposed conforming amendments to FINRA Rule 2263 ("Arbitration Disclosure to Associated Persons Signing or Acknowledging Form U-4").

FINRA described a valid electronic signature as one that "clearly identifies the signatory" and is in compliance with the Electronic Signatures in Global and National Commerce Act.

Comments on the proposed amendments must be submitted within 21 days following their publication in the Federal Register.