Broker-Dealer Registration Services
Broker-Dealer Registration Services
Broker-dealer registration is a critical first step in launching your firm. We provide expert support to help you meet SEC and FINRA requirements while mitigating regulatory risks.
Broker-dealer registration is a critical first step in launching your firm. We provide expert support to help you meet SEC and FINRA requirements while mitigating regulatory risks.
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Eligibility
Eligibility
Who Needs to Register as a Broker-Dealer?
Not every firm involved in securities must register as a broker-dealer, but most entities that buy or sell securities for themselves or on behalf of others are required to. Below are common types of businesses that typically must register.
Investment Firms
Firms that execute trades, manage client portfolios, or provide investment advice alongside transaction services generally must register as broker-dealers.
Investment Firms
Firms that execute trades, manage client portfolios, or provide investment advice alongside transaction services generally must register as broker-dealers.
Independent Brokers
Individuals who independently facilitate securities transactions, earning commissions or fees, are required to register to conduct their activities lawfully.
Independent Brokers
Individuals who independently facilitate securities transactions, earning commissions or fees, are required to register to conduct their activities lawfully.
Brokerage Firms
Companies acting as intermediaries in securities transactions for clients must be registered to operate and comply with applicable regulations.
Brokerage Firms
Companies acting as intermediaries in securities transactions for clients must be registered to operate and comply with applicable regulations.
Market Makers
Firms or individuals that regularly buy and sell securities from their own accounts to provide liquidity and stabilize markets need to register as broker-dealers.
Market Makers
Firms or individuals that regularly buy and sell securities from their own accounts to provide liquidity and stabilize markets need to register as broker-dealers.
Steps
Steps
The Broker-Dealer Registration Process
01
Reserve Your Firm’s Name
Submit a Firm Name Reservation Request Form to FINRA to confirm that your chosen name meets regulatory standards and does not conflict with existing member firms. Certain restricted terms, such as “national” or “Federal,” may require legal justification.
01
Reserve Your Firm’s Name
Submit a Firm Name Reservation Request Form to FINRA to confirm that your chosen name meets regulatory standards and does not conflict with existing member firms. Certain restricted terms, such as “national” or “Federal,” may require legal justification.
02
Set Up System Access
Designate a Super Account Administrator (SAA) to manage your firm’s access to FINRA systems. Submit the New Organization SAA Form, either through DocuSign or as a PDF. Once processed, FINRA provides credentials for system access, including the FINRA Gateway.
02
Set Up System Access
Designate a Super Account Administrator (SAA) to manage your firm’s access to FINRA systems. Submit the New Organization SAA Form, either through DocuSign or as a PDF. Once processed, FINRA provides credentials for system access, including the FINRA Gateway.
03
Fund Your Flex-Funding Account
Pre-fund your firm’s Flex-Funding Account to cover membership and registration fees. Payment can be made electronically via ACH through FINRA’s E-Bill system or by wire transfer. The required funding amount depends on your firm’s size and business activities.
03
Fund Your Flex-Funding Account
Pre-fund your firm’s Flex-Funding Account to cover membership and registration fees. Payment can be made electronically via ACH through FINRA’s E-Bill system or by wire transfer. The required funding amount depends on your firm’s size and business activities.
04
Meet FINRA’s Standards of Admission
Prepare a comprehensive business plan describing your services, structure, and compliance procedures. Demonstrate financial readiness and establish supervisory policies. Background checks must be conducted for all associated persons.
04
Meet FINRA’s Standards of Admission
Prepare a comprehensive business plan describing your services, structure, and compliance procedures. Demonstrate financial readiness and establish supervisory policies. Background checks must be conducted for all associated persons.
05
Submit Form BD Online
Complete Form BD through the FINRA Gateway, providing details about your business activities, ownership, disciplinary history, and financials. Required supporting documents, such as audited financials and supervisory procedures, must be uploaded.
05
Submit Form BD Online
Complete Form BD through the FINRA Gateway, providing details about your business activities, ownership, disciplinary history, and financials. Required supporting documents, such as audited financials and supervisory procedures, must be uploaded.
06
Submit Form BD Electronically
This includes the NMA, Form U4 for associated persons, and, if applicable, a Two Principal Waiver. Submitting complete and accurate forms helps reduce the likelihood of processing delays.
06
Submit Form BD Electronically
This includes the NMA, Form U4 for associated persons, and, if applicable, a Two Principal Waiver. Submitting complete and accurate forms helps reduce the likelihood of processing delays.
07
Submit Fingerprints
Associated persons must submit fingerprints through FINRA’s Electronic Fingerprint Submission system or via traditional fingerprint cards. Fingerprints are used for required background checks during the registration review process.
07
Submit Fingerprints
Associated persons must submit fingerprints through FINRA’s Electronic Fingerprint Submission system or via traditional fingerprint cards. Fingerprints are used for required background checks during the registration review process.
How We Help
How We Help
How InnReg Helps Broker-Dealers
We support broker-dealers through every step of the securities industry registration process, from preparing filings to addressing regulatory requirements. Our services are designed to help you navigate this complex process efficiently.
01
Broker-Dealer Licensing Strategy and Planning
Strategic advisory to help new or existing firms evaluate the best regulatory path for launching, expanding, or restructuring broker-dealer operations — before initiating the NMA or CMA process with FINRA.
01
Broker-Dealer Licensing Strategy and Planning
Strategic advisory to help new or existing firms evaluate the best regulatory path for launching, expanding, or restructuring broker-dealer operations — before initiating the NMA or CMA process with FINRA.
01
Broker-Dealer Licensing Strategy and Planning
Strategic advisory to help new or existing firms evaluate the best regulatory path for launching, expanding, or restructuring broker-dealer operations — before initiating the NMA or CMA process with FINRA.
02
Vendor and Service Provider Selection Support
Advisory and operational support for selecting key vendors and service providers during the NMA or CMA process — including clearing firms, tech platforms, and compliance-related third parties.
02
Vendor and Service Provider Selection Support
Advisory and operational support for selecting key vendors and service providers during the NMA or CMA process — including clearing firms, tech platforms, and compliance-related third parties.
02
Vendor and Service Provider Selection Support
Advisory and operational support for selecting key vendors and service providers during the NMA or CMA process — including clearing firms, tech platforms, and compliance-related third parties.
03
Form NMA/CMA
Full-scope support for preparing and submitting a New Membership Application (NMA) or Continuing Membership Application (CMA) with FINRA, including business plan drafting, document preparation, supervisory procedures, and response coordination.
03
Form NMA/CMA
Full-scope support for preparing and submitting a New Membership Application (NMA) or Continuing Membership Application (CMA) with FINRA, including business plan drafting, document preparation, supervisory procedures, and response coordination.
03
Form NMA/CMA
Full-scope support for preparing and submitting a New Membership Application (NMA) or Continuing Membership Application (CMA) with FINRA, including business plan drafting, document preparation, supervisory procedures, and response coordination.
04
Firm Registration Filings (Form BD, Name Reservation)
Preparation and submission of Form BD and related foundational filings to initiate registration as a broker-dealer with the SEC and FINRA, including name reservation and Gateway account setup.
04
Firm Registration Filings (Form BD, Name Reservation)
Preparation and submission of Form BD and related foundational filings to initiate registration as a broker-dealer with the SEC and FINRA, including name reservation and Gateway account setup.
04
Firm Registration Filings (Form BD, Name Reservation)
Preparation and submission of Form BD and related foundational filings to initiate registration as a broker-dealer with the SEC and FINRA, including name reservation and Gateway account setup.
05
Individual Registration Filings (Form U4)
Preparation, submission, and maintenance of Form U4 filings for registered individuals, including initial onboarding, role assignment, and disclosure review as required by FINRA and SEC rules.
05
Individual Registration Filings (Form U4)
Preparation, submission, and maintenance of Form U4 filings for registered individuals, including initial onboarding, role assignment, and disclosure review as required by FINRA and SEC rules.
05
Individual Registration Filings (Form U4)
Preparation, submission, and maintenance of Form U4 filings for registered individuals, including initial onboarding, role assignment, and disclosure review as required by FINRA and SEC rules.
06
FINRA Entitlement System Setup
Support for setting up access to FINRA’s Entitlement Program, including establishing the firm’s Super Account Administrator (SAA), enabling Gateway access, and managing entitlement roles for personnel involved in the application or ongoing filings.
06
FINRA Entitlement System Setup
Support for setting up access to FINRA’s Entitlement Program, including establishing the firm’s Super Account Administrator (SAA), enabling Gateway access, and managing entitlement roles for personnel involved in the application or ongoing filings.
06
FINRA Entitlement System Setup
Support for setting up access to FINRA’s Entitlement Program, including establishing the firm’s Super Account Administrator (SAA), enabling Gateway access, and managing entitlement roles for personnel involved in the application or ongoing filings.
Resources
Resources
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FAQ
FAQ
Frequently Asked Questions About Broker-Dealer Registration
Frequently Asked Questions About Broker-Dealer Registration
What is required to register as a broker-dealer?
What is required to register as a broker-dealer?
How long does broker-dealer registration typically take?
How long does broker-dealer registration typically take?
Can broker-dealers outsource required principal roles?
Can broker-dealers outsource required principal roles?
What is the FINRA New Member Application?
What is the FINRA New Member Application?
When is a Continuing Membership Application required?
When is a Continuing Membership Application required?
How long does FINRA take to review an NMA?
How long does FINRA take to review an NMA?
What are FINRA’s Standards for Admission?
What are FINRA’s Standards for Admission?
What’s the difference between a funding portal and a broker-dealer?
What’s the difference between a funding portal and a broker-dealer?
Let’s Talk About Your Compliance Needs
Let’s Talk About Your Compliance Needs
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.
Who We Serve
Compliance Services
Compliance Consulting
Compliance Operations
Licensing Services
Resources
About InnReg
The content provided on this website is for informational purposes only and does not constitute legal, investment, tax, or other professional advice. InnReg LLC is not a law firm, tax advisor, or regulated financial institution. Viewing this site or contacting InnReg does not create a client relationship. Results described in case studies or testimonials may not be typical and do not guarantee future outcomes. Tools, spreadsheets, or guides available on this site are provided for illustrative purposes only and should not be relied upon without professional guidance. Any links to third-party websites are provided for convenience and do not constitute endorsement or responsibility for their content. The information on this site may not be applicable in all jurisdictions. While we strive to provide accurate content, we make no representations as to its completeness or timeliness. Some visual assets on this site are sourced from Freepik.