FINRA Fingerprint Channeling

FINRA Fingerprint Channeling2018-12-17T10:45:38+00:00

Available in Rockville, MD, USA and Sydney, Australia

The Financial Industry Regulatory Authority, Inc., also known as FINRA for short, is a not-for-profit, non-government organization that regulates member brokerage firms, the New York Stock Exchange, and various exchange markets throughout the United States by implementing rules and regulations as well as by enforcing the rules and laws of federal securities. Individuals and firms are required to be qualified and registered with FINRA in order to sell securities or work with brokerage firms and exchange markets.

One of the requirements for individuals and firms wishing to receive their license to conduct business is an FBI Background Check through fingerprint comparison. This requirement can be processed by one of two ways; Electronic Fingerprint Submission or processing fingerprints onto FINRA-specific FD-258 Fingerprint Cards and manually submitting them to FINRA.

Authxperts offers ink fingerprinting on FINRA fingerprint cards, which we keep stocked in our offices. We also offer electronic fingerprint submissions to FINRA.

Authxperts is qualified agency to submit electronic fingerprints through FINRA approved fingerprint channeler to handle all of your Electronic Fingerprint Submissions (EFS) to FINRA.

As a certified vendor partner, we offer a secure connection where fingerprints can be submitted electronically with results being delivered back to the broker dealer through FINRA CRD. Electronic Fingerprint submissions allow for faster processing times, higher quality fingerprints, reduced rejection rates, and lower FINRA fingerprint processing fees assessed to firms.

Electronic Fingerprint Submission (EFS):

  • Member firms and service providers who are authorized by the firm have the option to become certified by FINRA to have all fingerprint requests to be submitted electronically to FINRA. Under FINRA’s EFS Program, firms are able to have their employees fingerprinted digitally by an approved Fingerprint Vendor Agency and submitted electronically, providing the fastest turnaround time of fingerprint results. The EFS Program is highly recommended by FINRA, as it provides
  • Better Fingerprint Image Quality: Digital capturing of Fingerprints through Livescan processing provides far better quality of fingerprints versus standard ink-rolled processing, lower rejection/low-quality images, and reduces the chance of requiring a resubmission
  • Faster Response Time: Since digital fingerprints and electronic submission of fingerprint files are sent directly to FINRA through a secure internet server, the timeframe in which FINRA receives the fingerprints, allowing for immediate transmittal to the FBI.
  • No Postage: Electronic Fingerprint Submission completely excludes the requirement for postage and mailing, thus eliminating any and all timeframes included with standard, overnight, and vendor-based postal service and any fees associated toward the actual shipping of fingerprints.

Manual Fingerprint Submission:

  • If member firms and service providers have not been authorized or do not wish to be authorized for FINRA’s EFS process are then required to have a physical copy of an individual’s fingerprints mailed directly to FINRA. While this process provides a longer response time, Authxperts LLC has the ability to still capture fingerprints digitally and have them printed onto the FINRA Fingerprint Cards, still reducing the chance of low-quality images and smudging. Individuals will still be required to obtain FINRA’s specific Fingerprint Card.
  • Ink-less Processing
    Since Fingerprints are captured digitally via Livescan technology, there is no longer a need for ink or messy fingers!
  • Mobile Services
    With our compact equipment, we can come straight to you! For large groups, we’re able to provide both manual and electronic fingerprinting services at your location for your convenience; additional fees associated with this service.

Why do I need to be fingerprinted for FINRA?:

  • Who is required to be fingerprinted?

    1. Members of a National Security Exchange
    2. Brokers
    3. Dealers
    4. Registered Transfer Agents
    5. Members of a Registered Clearing Agency
    6. All employees, officers, directors and partners of those listed above

Section 17(f)(2) within the Securities Exchange Act of 1934 requires every member of a national securities exchange, broker, dealer, registered transfer agent, and registered clearing agency to require that each of its partners, directors, officers, and employees be fingerprinted and to submit such fingerprints to the U.S. Attorney General for identification and processing.

We offer our clients flexible and convenient options for submitting to FINRA, including:

  • FINRA Electronic Fingerprint Submissions at our convenient location in Rockville, MD and Sydney, Australia
  • FINRA Electronic Fingerprint Submissions at your location
  • Ink fingerprint hard cards to be submitted to FINRA directly
  • Card Scanning Services to convert ink hard cards to electronic files for submission
  • Additionally, you can purchase or lease one of our partner systems and do your own fingerprinting in house

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