Thursday, April 25, 2013

FINRA E-Pay Account is changing

IARD System will soon replace FINRA E-Pay

For those of you that share my discontent with the FINRA systems, please read on...

FINRA recently implemented a new payment hub inside the IARD system. Super Account Administrators (and those granted access by the SAA) will soon be able to make payments in the system at http://firms.finra.org. This is the same access point to manage the user access for your IARD/CRD accounts, including the annual SAA Certification.

The E-Pay system remains open through May 17, 2013 for payments into the Daily Account. We will continue to update you as they complete this upgrade.


Below is the text you may have received from FINRA:

As the Super Account Administrator for your investment adviser firm, you should be aware of these changes to your firm's CRD/IARD Daily Account: (1) the account has a new name, the FINRA Flex-Funding Account; and (2) the method for making electronic (ACH) payments to fund your firm's account is also changing. FINRA's E-Bill system is now available to fund your firm's Flex-Funding Account (CRD/IARD Daily Account). The E-Bill system will soon become the only means for making ACH payments (check and wire payments will still be accepted) to fund your firm's Flex-Funding Account (CRD/IARD Daily Account). As the SAA, you have the ability to entitle yourself as a user to the new application, update existing accounts and/or create new accounts with this new application. Users will be required to provide bank account information the first time they use E-Bill to submit ACH payments.

Firms may continue to use the existing electronic payment application link to Web CRD/IARD E-Pay until June 17, 2013, at which time it will be replaced by a link to E-Bill in Web CRD/IARD. In preparation and to ensure your firm's continuous ability to make electronic payments, FINRA recommends you use this period to notify users who are responsible for funding your firm's CRD/IARD Daily Account to allow them to transition from using Web CRD/IARD E-Pay to E-Bill's FINRA Flex-Funding Account.

If you have questions regarding this email, please contact the IARD Call Center at (240) 386-4848 or send an email to iard@finra.org. Thank you.

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