Series 26: Application For Change In Ownership or Business Operations

Application for Change in Ownership or Business Operations

FINRA requires firms to file a continuing membership application (CMA) whenever they seek to expand their operations or activities and for other business events, such as:

• • A merger or acquisition
• • The acquisition or transfer of more than 25% of its assets
• • A change in equity ownership that allows one person or entity to own or control more than 25% of equity capital

A member must file the application with FINRA’s Department of Member Regulation and include a Form CMA, along with a detailed description of the change. A request for a change of ownership must include the names of the new owners, their pe