FINRA has revamped the form used for new member applications as part of an ongoing attempt to improve the user experience and streamline the application process.
The change was announced in a recent regulatory notice, with the New Member Application (Form NMA) available through FINRA Gateway from April 15, 2026. The current legacy Form NMA will be retired on July 15, 2026, FINRA added.
The regulator of broker-dealers has overhauled the form’s functionality, including streamlined document upload and cross-referencing across multiple sections, repositioning document requests to the start of each section, and specifying acceptable file formats. FINRA describes additional changes to Form NMA’s navigation and support tools, including an interactive “accordion” toolbar, floating modals with hints and tips, and embedded hyperlinks to Central Registration Depository, FINRA rules and relevant securities laws and regulations, with CRD links designed to allow updates that flow into the application within minutes.
"FINRA expects these new technological enhancements to streamline the new membership application process," it said, in the notice. "The enhancements clarify required information, improve initial submission quality and completeness, and are intended to reduce follow-up requests."
The notice states that the technological enhancements to Form NMA are made under FINRA’s Membership Application Program (MAP) and do not change the MAP rules governing application review, do not create new legal or regulatory requirements or interpretations, and do not relieve firms of any existing obligations.
Prospective applicants for FINRA membership will continue to file Form NMA to demonstrate compliance with the Standards for Admission, the regulator said, in the notice.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
