FINRA Gives Relief to Financial Advisors Affected by Hurricane Sandy

Posted by adaniels in Blog on November 9, 2012

In an effort to help business victims of Hurricane Sandy, the Financial Industry Regulatory Authority altered some of their rules. reports that FINRA has relaxed some mandatory requirements for financial advisors.

The publication says that “rules were altered on Thursday regarding office relocations, deadlines for regulatory filings, such as U4 forms, deadlines for continuing education, and new member applications.” FINRA is also giving time extensions for those who were afflicted by the superstorm.

The agency said that it “recognizes that members need relief from many regulatory requirements as a result of the dislocation caused by Hurricane Sandy.”  In addition, it has encouraged financial advisors to let displaced advisors work with them temporarily. FINRA also said that financial firms should put a notice on their websites for customers to let them know who they should contact regarding their accounts.

FINRA itself faced issues due to Hurricane Sandy. It has been unable to access its New York office membership office. It advised new members to contact them regarding the status of their paperwork.

Written by Lisa Swan


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