FINRA Adds New Question on "Residential Supervisory Locations" to Form U4
FINRA notified firms that it added a new question to Form U4 ("Uniform Application for Securities Industry Registration or Transfer") to identify "residential supervisory locations" ("RSLs").
FINRA said that "firms that have identified a location as a non-registered private residence are required to answer the RSL Question as either 'Yes' or 'No' by December 26, 2024." The answer is required for compliance with FINRA Rule 3110.19(d) ("Obligation to Provide List of RSLs to FINRA") as amended. (The December 26, 2023 is an extension of the previous October 15, 2024 deadline. See related coverage.)
FINRA also said it is continuing to develop enhancements to the Uniform Branch Office Registration Form ("Form BR") that will allow firms to amend Form BR to reflect RSL designations. FINRA advised firms to refer to the July 18 alert for details.
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