Instructions for Form U5 Uniform Termination Notice for Securities Industry Registration

Form U5 Uniform Termination Notice for Securities Industry Registration

This document contains official instructions for Form U5 , Uniform Securities Industry Registration - a form released and collected by the Financial Industry Regulatory Authority (FINRA). An up-to-date fillable Form U5 is available for download through this link.

FAQ

Q: What is Form U5?
A: Form U5 is the Uniform Termination Notice for Securities Industry Registration.

Q: What is the purpose of Form U5?
A: The purpose of Form U5 is to notify regulators and self-regulatory organizations about the termination of a registered person's employment or association with a firm in the securities industry.

Q: Who needs to fill out Form U5?
A: The employer or registered firm is responsible for filling out Form U5 upon the termination of a registered person's employment or association.

Q: What information is required on Form U5?
A: Form U5 requires information such as the registered person's name, Social Security number, termination date, reason for termination, and details of any regulatory events or disciplinary actions.

Q: Is there a deadline for filing Form U5?
A: Yes, Form U5 must be filed within 30 days of the termination or the date the firm learns of the termination, whichever is earlier.

Q: What happens after Form U5 is filed?
A: After Form U5 is filed, it becomes part of the individual's permanent record within the securities industry and can impact their ability to obtain future employment in the industry.

Q: Are there any consequences for not filing Form U5?
A: Yes, failure to timely file Form U5 can result in regulatory penalties and sanctions.

Q: Can Form U5 be amended or corrected?
A: Yes, if there are errors or omissions on Form U5, it can be amended or corrected by filing a Form U5 Amendment.

Q: Is Form U5 confidential?
A: No, Form U5 is not confidential and can be accessed by regulatory authorities, self-regulatory organizations, and potential employers in the securities industry.