Regulatory Alerts2024-01-23 | Regulatory Notice 24-02Added · Updated
FINRA Announces Effective Dates for Rules 3110.18 and 3110.19 and End of Regulatory Relief on Forms U4 and BR
FINRA announces that Rule 3110.19 (Residential Supervisory Location) becomes effective on June 1, 2024, allowing firms to designate private residences as non-branch locations subject to quarterly reporting and periodic inspections. Rule 3110.18 (Remote Inspections Pilot Program) becomes effective on July 1, 2024, establishing a voluntary three-year pilot for eligible firms to conduct remote inspections of qualified branch offices, with an opt-in period for Pilot Year 1 running from June 1 to June 26, 2024. Additionally, FINRA ends the regulatory relief provided in Notice 20-08 on May 31, 2024, requiring member firms to resume maintaining current employment address information on Form U4 and submitting branch office applications on Form BR by June 1, 2024, with all forms reflecting current data by July 1, 2024.