New Membership Application

Cerulean has assisted many clients through the New Membership Application (NMA) process at FINRA. The process is lengthy and complex but manageable when expectations are reasonable. Once the NMA is submitted, it takes 180 days to obtain approval and that does not include the time required to prepare the initial submission.

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All applications are required by FINRA to be considered “substantially complete” prior to review, so it is important to ensure that a firm submitting a NMA has properly completed the initial application. Otherwise, FINRA may not deem it “substantially complete.”

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For more information, please listen to our NMA Podcast published in conjunction with our friends at the RIA Compliance Collective. As always, we are here to answer questions and help guide you through the process.