SEC Approves Amendments to FINRA Form BR (Regulatory Notice 14-11)

The SEC approved amendments to FINRA Uniform Branch Office Registration Form ("Form BR"), which firms use to register their branch offices with FINRA, NYSE and participating states via the Central Registration Depository ("CRD") system. The approved amendments achieve the following:

• the elimination of Section 6 (NYSE Branch Information), which currently is applicable only to NYSE-registered firms;
• the addition of questions relating to space sharing arrangements and the location of books and records that are currently only in Section 6 and make them applicable to all firms;
• the modification of existing questions and instructions to provide more detailed selections for describing the types of activities conducted at the branch office;
• the addition of an optional question to identify a branch office as an "Office of Municipal Supervisory Jurisdiction" ("OMSJ"), as defined under the rules of the Municipal Securities Rulemaking Board ("MSRB"); and
• the incorporation of technical changes to adopt uniform terminology and clarify questions and instructions (the revised Form BR).

The revised form will become effective on April 7, 2014 for new registering branch offices. FINRA noted that firms will not be required to immediately file a revised form BR for existing branch offices. Instead, firms will be required to provide a new form BR whenever an amendment is required or existing information is updated.

See:FINRA Regulatory Notice 14-11.See also: CRD Frequently Asked Questions.Related news: SEC Extends Review Period for Form BR Amendments (January 24, 2014); FINRA Proposes Rule to Amend Uniform Branch Office Registration Form (Form BR) (November 25, 2013); NASAA Requests Comments on Uniform Branch Registration Form (July 17, 2013).