The Securities and Exchange Commission has approved Financial Industry Regulatory Authority amendments to its BrokerCheck system to expand the information released through BrokerCheck and establish a formal process to dispute the accuracy of or update information disclosed through BrokerCheck. A significant change is that FINRA has expanded the disclosure period for a FINRA member’s formerly associated persons from two years to ten years. Additionally, the conditions that must be met before “Historic Complaints” are displayed in BrokerCheck will be eliminated, and consequently, all Historic Complaints that were archived after the implementation of the Central Registration Depository on August 16, 1999, will become publicly available through BrokerCheck.
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Topics: BrokerCheck, FINRA, SEC
Published In: Administrative Agency 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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