View Whole SectionText only Print Print Manager Link
Previous Next
  Versions
(2 versions)
 
Jan 1 2008 - Jan 1 2013Jan 2 2013 onwards

Section 6 — Assessments and Fees for New Members, Resigning Members and Successor Organizations

(a) The assessment of a firm, which is not a member throughout FINRA's full calendar year from January 1 to December 31, shall be based upon the number of quarter years of membership. The proration for a new member shall include the quarter year in which the member is admitted to membership. The proration for a member which resigns shall include the quarter year in which the member's letter of resignation is received in FINRA's Executive Office.
(b) A member that is a successor organization to a previous member or members shall assume the unpaid balance of the assessments of its predecessor or predecessors and its next assessment shall be determined, if applicable, upon the assessment data of its predecessors. Such successor member shall not be required to re-register branch offices and personnel of predecessor members, but shall be required to pay registration fees therefor. Whether a member is the successor organization to a previous member or members shall be determined by FINRA upon a consideration of the terms and conditions of the particular merger, consolidation, reorganization, or succession. A member that has simply acquired the personnel and offices of another member under circumstances that do not constitute the member a successor organization shall not be required to assume the unpaid assessments of the other member. Such non-successor member shall be required to re-register the branch offices and personnel acquired from the other member and pay applicable registration fees.
Amended by SR-FINRA-2012-030 eff. Jan. 2, 2013.
Amended by SR-FINRA-2008-001 eff. Jan. 1, 2008.
Amended by SR-NASD-2002-182 eff. Dec. 24, 2002.
Amended by SR-NASD-2002-98 eff. July 24, 2002.
Schedule A, Sec. 4 added by SR-NASD-75-01 eff. Dec. 1, 1975.

Selected Notices: 95-94, 96-43, 08-19, 12-32.

Previous Next