Are Disclosure Inquiry Letter Tracking and the proposed Inactive DR registration status connected to the Late Disclosure Fee?
Disclosure Inquiry Letter Tracking and the Late Disclosure Fee are all parts of a multi-pronged, FINRA effort to help ensure that firms have adequate compliance procedures in place to be able to meet reporting obligations required by FINRA’s By-Laws and rules. Disclosure Inquiry Letter Tracking and any discretionary extensions granted in connection with that initiative do not affect Form U4 reporting obligations under NASD’s rules and FINRA’s By-Laws. A firm’s failure to timely report an event may subject it to the imposition of Late Disclosure Fees, as appropriate, and to potential disciplinary action.
