Washington State Department of Financial Institutions

Registration Requirements for
FINRA Member Firms and Salespersons

FINRA member firms apply for Washington registration by paying the $150 filing fee to CRD and checking Washington on the Form BD, which will put the firm into the No Stat queue. The Securities Division reviews that queue on a frequent basis. Usually, the Division is able to accomplish its review through information available on the CRD system, but occasionally firms are asked to supply additional information, especially if there are disclosure problems. If there are no problems the firm’s status will be changed to “Approved” or “Pending” as appropriate. The Status Change queue is also monitored frequently to pick up firms whose status has changed from Pending to Approved with FINRA.

Once the firm is approved, please do not send FOCUS reports or annual audited financial statements to the Division unless requested.

Salespersons for FINRA member firms apply for Washington registration by paying the $40 filing fee to CRD and checking Washington on the Form U-4.

Washington has an exemption from broker-dealer registration for firms if a firm: (1) does not have a place of business in this state and, (2) during any consecutive 12-month period makes no more than 15 offers to buy or sell or more than five sales to residents of this state (see RCW 21.20.005(3)(c)).

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