FINRA Provides Temporary Relief concerning Signature Requirements for Registration Form Filings
FINRA provided temporary relief concerning required manual signatures on Form U4 securities registration and transfer filings.
In a FAQ, FINRA explained that some firms may not be able to comply with the signature requirements in FINRA Rule 1010(c) ("Electronic Filing Requirements for Uniform Forms") due to the COVID-19 outbreak. FINRA is providing an exemption from such requirement if the firm:
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presents the applicant with a copy of the completed Form U4 prior to filing;
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receives the applicant's written acknowledgment prior to the filing that the information has been received and reviewed, and receives the applicant's approval of the information on Form U4 as to accuracy and completeness;
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retains such written acknowledgment, and is able to supply FINRA with the document promptly upon request; and
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obtains the applicant's physical signature as soon as possible.