Status of the Proposed Residential Supervisory Location (RSL) Updates
Firms are able to designate eligible locations as a Residential Supervisory Location (RSL) in accordance with Rule 3110.19 beginning June 1. Per Regulatory Notice 24-02, the first RSL quarterly list is not due to FINRA until October 15, 2024. FINRA has been developing functionality that would allow member firms to provide the required list to FINRA through an RSL indicator checkbox on Form U4 (proposed “RSL Indicator” checkbox) or by submitting the information via updated U4 API endpoints. The RSL Indicator checkbox functionality and the updated API endpoint are not yet available. As discussed in previous communications the functionality is dependent upon a rule filing with the SEC and a technology deployment to collect this information in CRD. Please monitor this space and FINRA rule flings for updates.