The Securities and Exchange Commission approved two changes to Financial Industry Regulatory Authority Rule 8312 relating to FINRA BrokerCheck Disclosure (BrokerCheck Rule). The first change to the BrokerCheck Rule requires FINRA’s BrokerCheck system to make publicly available on a permanent basis information about former associated persons of a FINRA member firm who were registered on or after August 16, 1999, if such persons were the subject of an investment-related civil action brought by a state or foreign financial regulatory authority that was dismissed pursuant to a settlement agreement. The second change to the BrokerCheck Rule expands the breadth of the information included in FINRA’s BrokerCheck system by including information about current or former FINRA member firms or current or former members of any registered national securities exchange that uses FINRA’s Central Registration Depository for registration purposes (collectively, BrokerCheck Firms) and each of such BrokerCheck Firms’ current or former associated persons. Both amendments to the BrokerCheck Rule become effective on June 23.
FINRA Regulatory Notice 14-08 is available here.