Proposed FINRA Rule Would Make Broker Misdeeds More Public

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Complaints about brokers, including allegations of minor misconduct, could soon be widely available to the public. The SEC recently published a proposed FINRA rule that would change how disciplinary and other information is released by FINRA to the public.

Under the proposed amendments, FINRA would be able to publicize complaints against regulated entities. They would specifically be included in monthly notices of disciplinary actions and its online disciplinary action reporting system.

According to FINRA, “greater access to information regarding its disciplinary actions provides valuable guidance and information to members, associated persons, other regulators, and investors.”

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Published In: Business Organization 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.

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