FINRA Proposes to Include More and Older Information on BrokerCheck


Continuing its efforts to increase the amount of publicly available information on financial industry professionals, the Financial Industry Regulatory Authority (FINRA) announced last Wednesday its proposed plans to significantly expand the disclosure of customer complaints against current and former registered representatives (RRs).

FINRA’s proposal, which it plans to submit to the Securities and Exchange Commission for approval in the coming weeks, would increase public access to records of complaints filed against RRs through BrokerCheck, FINRA’s publicly accessible online database of information regarding RRs. The proposed expansion focuses on increasing the number of customer complaints reported publicly and also extends the disclosure period for certain types of information.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  BrokerCheck, FINRA, Registered Representatives, SEC

Published In: Administrative Agency Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »