SEC Grants No-Action Relief from Rule 17a-4 for Reliance on Central Registration Depository System to Maintain Electronically Signed Form U4 Filings

On September 5, 2025, the Staff of the Division of Trading and Markets of the U.S. Securities and Exchange Commission (“SEC”) granted no-action relief that allows members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) to rely on the Central Registration Depository system (“CRD”) to satisfy their record retention requirements under Rule 17a-4 (“Rule 17a-4”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to Form U4 (Uniform Application for Securities Industry Registration or Transfer) filings that are electronically signed by individuals using FINRA’s electronic signature functionality (“FINRA E-Signature functionality”) and maintained on CRD (the “2025 Letter”).