📝 How Do I Update My FINRA Records?

Maintaining accurate and up-to-date FINRA records is crucial for compliance, registration, and career progression in the financial industry. Whether you’re a registered representative, firm, or adviser, there are procedures to update your personal details, employment history, and registration status with FINRA.

Here’s a guide to help you navigate the process of updating your FINRA records.

🔄 1. Update Personal Information (Form U4)

Form U4 is the main document used by individuals to register with FINRA and other self-regulatory organizations (SROs). It tracks your personal information, qualifications, employment history, and regulatory actions.

To Update Personal Info on Form U4:

• Log into the CRD system: Access the Central Registration Depository (CRD) system through FINRA’s website.
• Submit changes to Form U4: Update your personal information (e.g., address, phone number, email, legal name changes) through your firm’s compliance department or a registered principal.
• Disclosures: If there have been any criminal convictions, civil judicial actions, or regulatory sanctions, ensure these disclosures are updated accurately.

🏢 2. Update Employment History

Form U4 also tracks your employment history within the financial industry. This is particularly important if you change firms or are promoted to a different role.

To Update Employment Information on Form U4:

• Notify your firm: Your employer will file a Form U4 amendment through CRD to reflect your updated job title, responsibilities, or new employment status.
• Record the employment history accurately: Ensure all positions are properly listed, including job titles, dates, and firm names.
• Use Form U5 for termination: If you leave a firm or your employment is terminated, your firm will submit Form U5 to reflect this change in the CRD system.

🧑‍💼 3. Update Qualifications and Exams

If you gain additional licenses or qualifications (such as passing the Series 6 or Series 7), you need to update your exam history in the FINRA database.

To Update Qualifications:

• Submit exam updates: When you pass an exam or certification (e.g., CFP, CFA), it will automatically be updated in your CRD record by the testing authority.
• Submit continuing education: Ensure your firm reports any CE requirements to keep your records in compliance with FINRA rules.

🧾 4. Update Disclosure Information

If there are any new regulatory or disciplinary actions, including criminal charges or bankruptcies, you are required to update these disclosures on your Form U4 immediately.

To Update Disclosures:

• File amendments through your employer or principal.
• Be transparent about any disclosures related to your professional conduct. Failure to disclose may lead to significant consequences.

🌐 5. How to Update Records Online

1. Log in to the FINRA CRD system via the FINRA Gateway.
2. Select the “Submit a U4” or “Amend a U4” option.
3. Follow the system prompts to update your personal, employment, or regulatory history.

🔄 6. Monitoring Your FINRA Record

Once your updates are submitted, you can monitor your record through the CRD system to confirm that the changes have been made correctly. You’ll also want to regularly check for any outstanding compliance issues that need to be addressed.

Access Your Record:

• Your FINRA BrokerCheck profile allows you to view all your professional credentials, employment history, and regulatory events.

🎓 Ready to manage your FINRA records more efficiently?
For complete guidance on submitting your Form U4, monitoring your record, and ensuring compliance, visit FINRA’s official portal.