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 Notices
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18-27 Restructured Qualification Examinations and Related Examination Fees; Effective Date: October 1, 2018

13-11 FINRA Provides a Process for Waiving CMA Fees for Less Significant CMA Changes and Refunding of NMA and CMA Fees for Applications Withdrawn Within 30 Days After Filing; Effective Date: Immediately

12-32 Changes to Advertising, Corporate Financing, New Membership and Continuing Membership Application, Central Registration Depository and Branch Office Annual Registration Fees

12-16 Changes to Qualification Examination Fees and New Service Charge for Regulatory Element Continuing Education Sessions Taken Outside the United States; Effective Date: April 2, 2012

11-36 Changes to Fees for Cancelling or Rescheduling a Qualification Examination or Regulatory Element Continuing Education Session

09-71 SEC Approves Consolidated FINRA Rules Governing Financial Responsibility; Effective Date: February 8, 2010

09-67 Regulatory Element Continuing Education Fees to Increase; Effective Date: January 4, 2010

08-61 Proposed Amendments to Qualification Examination Fees in Section 4(c) of Schedule A to the FINRA By-Laws; Proposed Implementation Date: January 2, 2009

04-25 SEC Approves New NASD Research Analyst Qualification and Examination Requirements (Series 86/87)

01-54 SEC Approves Proposed Additions To The List Of Rules Appropriate For Disposition As Minor Violations Of Rules And For The Establishment Of Late Fees For Certain Filings And Reports

99-75 Series 7 Examination Fee Increase Effective September 15, 1999

98-89 NASD Announces Changes In CRD Filing Fees

95-59 Temporary Fee Increase For Agent Registration Filings;

Section 4 — Fees


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Past version: effective from Apr 9 2010 - Aug 31 2011.
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(a) Each member shall be assessed a registration fee of $75.00 and a branch office system processing fee of $20.00 upon the registration of each branch office, as defined in the By-Laws. Each member also shall be assessed: (1) an annual registration fee in an amount equal to the lesser of (i) $75.00 per registered branch, or (ii) the product of $75.00 and the number of registered representatives and registered principals associated with the member at the end of FINRA's fiscal year; and (2) an annual branch office system processing fee of $20.00 per registered branch. As of July 3, 2006, FINRA shall waive, for one branch office per member per year, payment of the $75.00 annual registration fee (where such fee has been assessed pursuant to paragraph (a)(1)(i)) and the $20.00 annual branch office system processing fee assessed pursuant to paragraph (a)(2).
(b) FINRA shall assess each member a fee of:
(1) $85.00 for each initial Form U-4 filed by the member with FINRA for the registration of a representative or principal, except that the following discounts shall apply to the filing of Forms U-4 to transfer the registration of representatives or principals in connection with acquisition of all or a part of a member's business by another member:

Number of Registered Personnel Transferred

Discount

1,000–1,999

10%

2,000–2,999

20%

3,000–3,999

30%

4,000–4,999

40%

5,000 and over

50%

(2) $40.00 for each initial Form U-5 filed by the member with FINRA for the termination of a registered representative or registered principal, plus a late filing fee of $80.00 if the member fails to file the initial Form U-5 within 30 days after the date of termination;
(3) $95.00 for the additional processing of each initial or amended Form U-4 or Form U-5 that includes the initial reporting, amendment, or certification of one or more disclosure events or proceedings;
(4) $13.00 for processing and posting to the CRD system each set of fingerprints submitted by the member to FINRA, plus any other charge that may be imposed by the United States Department of Justice for processing each set of fingerprints;
(5) $13.00 for processing and posting to the CRD system each set of fingerprint results and identifying information that have been processed through another self-regulatory organization and submitted by a member to FINRA;
(6) $30.00 annually for each of the member's registered representatives and principals for system processing; and
(7) 10% of a member's final annual renewal assessment or $100, whichever is greater, with a maximum charge of $5,000, if the member fails timely to pay the amount indicated on its preliminary annual renewal statement.
(c) The following fees shall be assessed to each individual who registers to take an examination as described below. These fees are in addition to the registration fee described in paragraph (b) and any other fees that the owner of an examination that FINRA administers may assess.
Series 4 Registered Options Principal $90
Series 6 Investment Company Products/Variable Contracts Representative $85
Series 7 General Securities Representative $265
Series 9 General Securities Sales Supervisor — Options Module $70
Series 10 General Securities Sales Supervisor — General Module $110
Series 11 Assistant Representative — Order Processing $70
Series 14 Compliance Official $320
Series 16 Supervisory Analyst $210
Series 17 Limited Registered Representative $70
Series 22 Direct Participation Programs Representative $85
Series 23 General Securities Principal Sales Supervisor Module $85
Series 24 General Securities Principal $105
Series 26 Investment Company Products/Variable Contracts Principal $85
Series 27 Financial and Operations Principal $105
Series 28 Introducing Broker-Dealer Financial and Operations Principal $85
Series 37 Canada Module of S7 (Options Required) $160
Series 38 Canada Module of S7 (No Options Required) $160
Series 39 Direct Participation Programs Principal $80
Series 42 Registered Options Representative $65
Series 51 Municipal Fund Securities Limited Principal $85
Series 52 Municipal Securities Representative $95
Series 53 Municipal Securities Principal $95
Series 55 Limited Representative — Equity Trader $95
Series 62 Corporate Securities Limited Representative $80
Series 72 Government Securities Representative $95
Series 79 Investment Banking Qualification Examination $265
Series 82 Limited Representative — Private Securities Offering $80
Series 86 Research Analyst — Analysis $160
Series 87 Research Analyst — Regulatory $115
(1) Persons for whom any qualification examination is waived pursuant to Rule 1070 shall be assessed as an application fee the examination fee for each qualification examination so waived.
(2) There shall be a service charge equal to the examination fee assessed to each individual who, having made an appointment for a specific time and place for computer-based administration of an examination, fails to timely appear for such examination or timely cancel such appointment.
(3) There shall be a service charge fee of $15.00 in addition to those fees specified above for any examination taken in a foreign test center located outside the territorial limits of the United States.
(d) In the event a member believes it should not be required to pay the late filing fee, it shall be entitled to a hearing in accordance with the procedures set forth in the Rule 9640 Series.
(e) In addition to any dues or fees otherwise payable, each applicant for membership shall be assessed an application fee, as follows:
(1) $5,000, if the type of business in which the applicant proposes to engage will require it to calculate its net capital pursuant to section (a)(1), (a)(7), (a)(8) or (f)(1) of SEC Rule 15c3-1, or pursuant to sections 402.1(e) or 402.2(b) of the Treasury Regulations ("Treasury Regulations") promulgated under Section 15C of the Act;
(2) $3,000, if the type of business in which the applicant proposes to engage will require it to calculate its net capital pursuant to section (a)(2) of SEC Rule 15c3-1, or pursuant to section 402.2(c) of the Treasury Regulations; and
(3) for all other applicants, $3,000.
(f) There shall be a session fee of $100 assessed as to each individual who is required to complete the Regulatory Element of the Continuing Education Requirements pursuant to FINRA rules.
(g)(1) Unless a specific temporary extension of time has been granted, there shall be imposed upon each member required to file reports, as designated by this paragraph ("Designated Reports"), a fee of $100 for each day that such report is not timely filed. The fee will be assessed for a period not to exceed 10 business days. Requests for such extension of time must be submitted to FINRA at least three business days prior to the due date; and
(2) Any report filed pursuant to this Rule containing material inaccuracies or filed incompletely shall be deemed not to have been filed until a corrected copy of the report has been resubmitted.
(3) List of Designated Reports:

(A) SEA Rule 17a-5 — Monthly and quarterly FOCUS reports and annual audit reports;
(B) SEA Rule 17a-10 — Schedule I;
(C) FINRA Rule 4140 — any audited financial and/or operational report or examination report required pursuant to Rule 4140; and
(D) FINRA Rule 4521 — any report, notification or information required pursuant to Rule 4521.
(h) FINRA shall assess each member a fee of $10 per day, up to a maximum of $300, for each day that a new disclosure event or a change in the status of a previously reported disclosure event is not timely filed as required by FINRA on an initial Form U5, an amendment to a Form U5, or an amendment to a Form U4, with such fee to be assessed starting on the day following the last date on which the event was required to be reported.
Amended by SR-FINRA-2010-016 eff. April 9, 2010.
Amended by SR-FINRA-2008-067 eff. Feb. 8, 2010.
Amended by SR-FINRA-2009-071 eff. Jan. 4, 2010.
Amended by SR-FINRA-2009-056 eff. Nov. 2, 2009.
Amended by SR-FINRA-2008-053 eff. Jan. 2, 2009.
Amended by SR-FINRA-2008-001 eff. Jan. 1, 2008.
Amended by SR-FINRA-2008-035 eff. July 30, 2007.
Amended by SR-NASD-2006-065 eff. July 3, 2006.
Amended by SR-NASD-2005-133 eff. Jan. 1, 2006.
Amended by SR-NASD-2005-132 eff. Jan. 1, 2006.
Amended by SR-NASD-2004-145 eff. Jan. 1, 2005.
Amended by SR-NASD-2004-087 eff. June 7, 2004.
Amended by SR-NASD-2004-049 eff. Mar. 30, 2004.
Amended by SR-NASD-2003-192 eff. Feb. 11, 2004.
Amended by SR-NASD-2004-115 eff. Jan. 1, 2004.
Amended by SR-NASD-2003-148 eff. Oct. 3, 2003.
Amended by SR-NASD-2003-109 eff. July 10, 2003.
Amended by SR-NASD-2002-182 eff. Dec. 24, 2002.
Amended by SR-NASD-2002-147 eff. Oct. 18, 2002.
Amended by SR-NASD-2002-100 eff. July 25, 2002.
Amended by SR-NASD-2002-98 eff. July 24, 2002.
Amended by SR-NASD-00-39 eff. Sept. 10, 2001.
Amended by SR-NASD-99-38 eff. Sept. 15, 1999.
Amended by SR-NASD-99-43 eff. Sept. 7, 1999.
Amended by SR-NASD-98-77 eff. Jan 1, 1999.
Amended by SR-NASD-98-95 eff. Dec 21, 1998.
Amended by SR-NASD-96-53 eff. Jan 3, 1997.
Amended by SR-NASD-95-32 eff. July 26, 1995.
Amended by SR-NASD-95-23 eff. July 1, 1995.
Amended by SR-NASD-94-58 eff. Dec. 9, 1994.
Amended by SR-NASD-94-06 eff. Feb. 9, 1994.
Amended by SR-NASD-94-05 eff. Jan. 21, 1994.
Schedule A, Sec. 2 amended eff. May 20, 1975; May 30, 1979; Oct. 1, 1979; Nov. 23, 1982; Oct. 1, 1985; Aug. 14, 1987; Apr. 4, 1990 (eff. May 1, 1990); May 3, 1990; Aug. 13, 1990; Mar. 1, 1991; July 16, 1991; Nov. 4, 1992; July 13, 1993.

Selected Notices: 95-59, 98-89; 99-75, 01-54, 04-25, 08-61, 09-67, 09-71.

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