FINRA to revamp registration systems
The multi-phased overhaul will increase the utility and efficiency of the registration and disclosure process while reducing compliance costs for firms.
The redeveloped registration systems will facilitate more efficient interaction for users and leverage information from other FINRA regulatory programs, resulting in a more accurate and complete set of information about registered individuals, branches and firms.
The first phase of the transformation—a new WebCRD interface that highlights important information or activities requiring immediate attention of firms, branches and individuals—goes into effect on June 30.
FINRA said that is expects all planned changes to be completed in 2021.
To read FINRA's News Release on the initiatives in its entirety, click here.
Source: FINRA.org, 6/14/2018
Posted: June 18, 2018
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