Justification and Approval - Filing of Form CRS

The US Securities and Exchange Commission (SEC) awarded a sole source contract to the Financial Industry Regulatory Authority (FINRA) for the Filing of Form CRS through a CRS System, and public access to the filings through BrokerCheck. The Commission requires FINRA to design, develop, and implement Form CRS capabilities in connection with FINRA Web CRD and BrokerCheck systems, in order to enable broker-dealers to file Form CRS on the CRS System and access the CRS System through Web CRD, to enable the CRS System to connect with the IARD System for Dual CRS filings by firms registered both as a broker dealer and as an investment adviser, to maintain such filings for designated periods, and to make the filings accessible to the public through BrokerCheck. Additionally, the contract will also provide for FINRA to transfer Form CRS data to the SEC. The period of performance is for one (1) base year, and there are nine (9) option periods, each option period is one (1) year in duration. FINRA is the only known source that has been identified as capable of fulfilling the Government's requirement. The contract action is for services for which the Government intends to solicit and negotiate with only a sole source under the authority of FAR 6.302-1 and 41 U.S.C. 253(c)(1), Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements.