FINRA Rule 1000 Series

Core Membership Application Rules (MAP)

• Rule 1013 (New Member Application): Requires prospective member firms to submit a comprehensive New Member Application (NMA) detailing business plans, ownership, and supervisory structures to FINRA’s Membership Application Program (MAP).
• Rule 1014 (Department Decision): FINRA evaluates applications against specific membership standards, including financial strength, supervisory controls, compliance systems, and overall readiness to operate as a regulated firm.
• Rule 1017 (Change in Ownership/Control): Mandates that existing member firms file a Continuing Member Application (CMA) prior to implementing material changes in ownership, control, or business operations.

Registration and Qualification

• Rule 1210 & 1220 (Registration Requirements & Categories): Individuals engaged in securities or investment banking activities must be properly registered with FINRA in the role that matches their responsibilities.
• Rule 1240 (Continuing Education): Registered individuals must complete ongoing regulatory and firm-required training to maintain their qualifications and active registration status.

General Provisions

• Rule 1122 (Misleading Information): Prohibits filing incomplete, inaccurate, or misleading information regarding membership or registration, or failing to correct such filings.