LARA - Once An Agent is Registered as a FINRA Securities Agent


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Once An Agent is Registered as a FINRA Securities Agent

Amendments: Any amendments to the agent's Form U-4 should be submitted electronically through the CRD System. An agent is required to promptly file any changes to his or her U-4 Form.
Mass Transfer: Firms may mass transfer agents from one firm to another. Michigan has a mass transfer fee of $65.00 per agent. FINRA will notify Michigan when the transfer takes place, and the fees will be deducted automatically from the broker dealer’s account.
Renewal fees: Payments are processed through the CRD system. The renewal fee is $65.00 per agent. The fee is deducted automatically from the broker dealer's account based upon the renewal timetable set up each December by FINRA . All FINRA firms are notified well in advance of the renewal fee deadlines and should have adequate monies in their account to cover all fees due. Failure to pay the renewal fee will result in an agent's registration being automatically terminated through the CRD System.


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