What is the difference between “registering” a branch office and “notice filing” a branch office?
Regulators participating in the Branch Office Registration Program require branch offices to be either “registered” or “notice filed.” Although these terms may be used interchangeably by self-regulatory organizations (SROs) and/or states, “registering” typically refers to a process that requires an approval by the SRO or state before a branch may begin doing business, whereas “notice filing” typically refers to a process by which firms notify an SRO or state of the existence of a branch office, but an approval is not required. Regulators that require “notice filing” of a branch office will mark the branch as “Open” in the Web CRD system upon receipt.
