FINRA New Member Application – Starting a Broker-Dealer

Starting a Broker-Dealer

What is FINRA Broker-Dealer registration?  In order to become a Broker-Dealer, you must be a member of FINRA. To become a member of FINRA, an application is submitted for registration through the new member application process.  Applying for this membership is an extensive process with multiple steps whose planning process typically takes months.  Once the application is completely filed, FINRA has 180 calendar days to review and process the application.  There are multiple deadlines throughout the process, that if not met FINRA will terminate the application and the applicant must begin the application process again.  Oyster Consulting’s registration experts will explain what to expect during the application process and during the membership interview process. We know how to navigate the application process, saving you time and effort.

The Process

The FINRA New Member Application (NMA) process can be intimidating and time consuming. From application to disposition the NMA process is a time you want the most qualified and competent team on your side. We have successfully guided many new Broker-Dealers through the process, from start-ups to complex organizations. If your firm is now subject to Exchange Act Rule 15b9-1, we can help.

Our team of registration experts you will review your business structure, plan and documentation to determine the best approach. We understand how to design practical and reasonable regulatory compliance programs. Take advantage of our experience and let our industry NMA experts turn one of your firm’s toughest challenges into a smooth process.

Digital Assets and Registration

It is important to understand that an offering of digital assets must comply with the SEC’s registration rules, and also the firm may be required to register as a broker-dealers who must comply with FINRA’s rules. Our FINRA Registration experts have successfully guided many new broker-dealers through the process, from start-ups to complex organizations. Our team of registration experts you will review your business structure, plan and documentation to determine the best approach.

eBook

Download the Starting Your Broker-Dealer eBook to learn about registration, the benefits of outsourcing your CCO and FINOP roles, testing requirements and clearing platform assessment, selection, and conversion.

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Our Process

Step 01

Discover

We listen to your goals and priorities. We foster significant transformation by encouraging a dialogue that goes both ways.

Step 02

Plan

We make a plan and schedule to give your team the best financial service industry experience for your project.

Step 03

Implement

Oyster ensures regular communication to oversee and strengthen the financial compliance management project objectives while accomplishing project tasks.

Step 04

Deliver

Oyster offers financial services regulatory compliance support to meet your goals and expectations.