FINRA to help firms affected by wildfires

The Financial Industry Regulatory Authority late yesterday issued some regulatory relief for firms affected by the Southern California wildfires. In a notice to members, FINRA said it will permit displaced personnel to relocate to offices that are not registered as branch offices. It asked firms to send written notification of such arrangements as soon as possible. The notice asked firms not impacted by the fires to make office space available to those that have been impacted, and it temporarily suspended the requirement to update Form U-4s with new office addresses. FINRA also said firms dislocated by the fires could waive letters of authorization for certain fund transfers that normally require client signatures. Firms must provide a list of irretrievable records lost in the fires to FINRA by Dec. 31.