FINRA Regulatory Notice 25-01: 2025 Broker-Dealer & Investment Adviser Renewal Guide

As the new year begins, regulatory compliance remains a top priority for Broker-Dealers (BDs), Investment Advisers (IAs), and related entities. FINRA’s Regulatory Notice 25-01 (Regulatory Notice 25-01 | FINRA.org) outlines critical information about the 2025 renewal process, including final statements, payment deadlines, and procedures for addressing discrepancies. Staying informed is essential to ensure seamless registration renewals and avoid penalties.

What is Regulatory Notice 25-01?

Issued by FINRA, this notice provides guidance for the 2025 renewal cycle, covering registration fees for broker-dealers, investment adviser firms, agents, representatives, and branches. The notice aims to help firms navigate the Final Statements available on January 2, 2025, reconcile fees, and complete payments accurately and on time. (https://www.finra.org/filing-reporting/e-bill/user-guide#Renewal_Alert)

Key Dates and Deadlines

• January 2, 2025: Final Statements became available in E-Bill, (https://ews.finra.org/auth/logon?realm=ews&goto=https://gateway.finra.org:443/app) reflecting any adjustments since the Preliminary Statements issued in November.
• January 24, 2025: Deadline to pay any outstanding fees or report discrepancies to FINRA.

Payment and Refund Processes

Firms must review their Final Statements and ensure all fees are paid by the January 24 deadline. Payments can be made through: ( https://www.finra.org/registration-exams-ce/broker-dealers/annual-renewal/payment-options )

• E-Bill (preferred)
• Wire transfer
• Check

Overpayments have been credited to firms’ Flex-Funding Accounts, and refund requests can be submitted after January 27, 2025. (https://www.finra.org/industry/e-bill-user-guide#Refunds)

Renewal Reports

CRD/IARD systems provide detailed renewal reports, which include registrations renewed for 2025. Firms should carefully examine these reports to verify registration accuracy and include them in their permanent records. (https://www.finra.org/registration-exams-ce/broker-dealers/annual-renewal#reports)

Reporting Discrepancies

If discrepancies are identified, firms must report them in writing to FINRA by the January 24 deadline. Supporting documentation, along with the Final Statement, should be sent to FINRA’s Registration & Disclosure – Regulatory Services & Operations office.

Takeaways

The 2025 renewal process is well underway, and adhering to deadlines is crucial for maintaining compliance. Firms should review their Final Statements, confirm payments, and address discrepancies promptly to avoid any interruptions in their operations. For additional information, refer to FINRA’s Renewal Program resources or contact their Support Center at (301) 869-6699.

You can find additional resources on the following webpages:

• FINRA’s Renewal Program  page (for BDs)
• IARD Renewal Program  page (for IAs)

Additional contact information is as follows:

FINRA Registration & Disclosure – Regulatory Services & Operations 9509 Key West Avenue Rockville, MD 20850

Phone: 301.869.6699

Website: https://www.finra.org/