Final answer:
The responsibility of filing Form U5, when a registered person leaves a FINRA member firm, falls upon the member firm. This form must be filed within 30 days and contains details about the termination and any related disclosures.
Step-by-step explanation:
When a registered person terminates from a FINRA member firm, filing Form U5 is the responsibility of the member firm. The member firm has the obligation to report the termination of the registered person. Form U5, officially known as the Uniform Termination Notice for Securities Industry Registration, must be filed within 30 days of the termination. This form provides information regarding the termination, including any reasons for the termination and disclosures related to complaints, settlements, or regulatory actions if applicable.