What does it mean to be affiliated with FINRA or a financial institution?
“FINRA” is the Financial Industry Regulatory Authority.
“Affiliate” means any of the following works for FINRA or a financial institution:
- Your spouse
- Any member of your immediate household
- Anyone who contributes 25% or more to your annual income
A “financial institution” is defined as:
- A FINRA registered broker-dealer
- A domestic or foreign non-member broker-dealer
- An investment adviser
- A bank
- An insurance company
- A trust company
- A credit union
- An investment company
If you are affiliated with FINRA or a financial institution, see the following steps here.