January 3, 2014

FINRA Refunds

Hopefully you made it safely through the FINRA renewal process this year.

With new, but still outdated FINRA systems and states in need of funds, we find ourselves at the edge of our seats through the renewal payment season.

Based on the limitations of the FINRA systems, some firms were forced to overpay in November and December. Now it is time to get a refund. FINRA will not automatically refund any overpayments. A formal request to FINRA is required.

Here's how you do this...

How to Request a Refund from Your Account

Firms may choose to withdraw funds from their Flex-Funding Account due to various circumstances (e.g., renewal refund, or account overfunding). To request a refund from your firm's account, send an email to FINRA Refunds.

Email must be sent from an appropriate firm signatory
Reference the Firm CRD number
Include requested refund amount
Please include the total balance of your firm’s Flex-Funding Account for verification purposes in the email.

Note: The refund check will be made payable to the firm and mailed to the address of record. Most refund requests should be processed within 10 business days of receipt except during the annual renewal season.

For AdvisorAssist Compliance Clients, we will be contacting you to determine any refunds you would like processed.


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