SIS Filings Month EndingįINRA has established a new SLS. 10 A firm with inventory positions consisting only of money market mutual funds must affirmatively indicate through the eFOCUS system that no SIS filing is required for the reporting period.įINRA reminds members FINRA has revised 11 the SIS so that, beginning with FOCUS reports and SIS filings that report on the period ending October 31, 2021, and would be due in November 2021, members that are filers of FOCUS Report Part II are no longer required to file the SIS. The SIS must be filed by a firm that is required to file FOCUS Report Part IIA or FOGS Report Part I, with inventory positions as of the end of the FOCUS or FOGS reporting period, unless the firm has (1) a minimum dollar net capital or liquid capital requirement of less than $100,000 or (2) inventory positions consisting only of money market mutual funds. For more information on the Form OBS, including Frequently Asked Questions, please see the Derivatives and Other Off-Balance Sheet Items (OBS) page. A firm that claims the de minimis exception must affirmatively indicate through the eFOCUS system that no filing is required for the reporting period. 9 Any firm that is required to file the Form OBS must do so as of the last day of a reporting period within 22 business days of the end of each calendar quarter by using the eFOCUS system. Unless subject to the de minimis exception, the Form OBS must be filed by (1) all member firms that self-clear their proprietary transactions or clear transactions for others or carry customer accounts and (2) all other member firms that have, pursuant to SEA Rule 15c3-1, a minimum dollar net capital requirement equal to or greater than $100,000 and at least $10 million in reportable items pursuant to the Form OBS. Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (Form OBS) Form Custody Filings Quarter Endingįirms must file the SSOI on a quarterly basis. Quarterly FOCUS Part II/IIA Filings Quarter Endingįirms are required to file Form Custody pursuant to SEA Rule 17a-5(a)(5). Monthly and Fifth 7 FOCUS Part II/IIA Filings Period End For information about completing the FOCUS Report, please see FINRA’s guidance on eFOCUS submission. Annual Reports Period Endingĭue Date for Firms That Meet Conditions for 30-Day Extensionįirms must submit their FOCUS Reports electronically through the eFOCUS System available via FINRA Gateway. Eastern Time (ET) on the due dates listed in this Notice. Members may consult the SIPC website for further information.įilings are due no later than 11:59 p.m. Through an agreement between SIPC and FINRA, 6 when a firm that is a SIPC member files an annual report through FINRA Gateway, this will also constitute filing with SIPC. Rule 17a-5(d)(6) requires firms that are members of the Securities Investor Protection Corporation (SIPC) to file the annual report with SIPC. Members that meet the conditions set forth in the SEC’s order and wish to avail themselves of the 30-day extension must provide notification to FINRA as described further in Regulatory Notice 21-05. The SEC’s order, in response to a request by FINRA, is designed to ease potential burdens that smaller members may face in obtaining audit services. In February 2021, the SEC issued an order 4 that permits specified firms an additional 30 calendar days to file their annual reports as required pursuant to SEA Rule 17a-5(d), subject to certain conditions. FINRA reminds members that the SEC has a process for electronic filing of annual reports, in lieu of filing in paper form, which the SEC simplified and updated in January 2017. 2 Pursuant to SEA Rule 17a-5(d)(6), firms must also file the report at the regional office of the SEC in which the firm has its principal place of business and the SEC’s principal office in Washington, DC. Background Annual Reportįirms must submit their annual reports to FINRA in electronic form. Questions regarding this Notice should be directed to your firm’s Risk Monitoring Analyst. The due dates set forth in this Notice are solely as to the filings that are specified in the Notice and are required under SEA Rule 17a-5 or FINRA Rule 4524. These due dates take into account the federal holiday calendar as appropriate. 1 FINRA reminds members that all such filings they submit to FINRA must be made electronically through FINRA Gateway. To assist members in their financial reporting obligations, FINRA is issuing this Notice to provide the due dates for Annual Report, Financial and Operational Combined Uniform Single (FOCUS), Form Custody, and supplemental FOCUS Report filings that are due in 2022 or the first quarter of 2023.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |