BrokerCheck is the database through which FINRA publishes licensing, registration, and disciplinary history of brokerage industry firms and their personnel. BrokerCheck does not currently specify whether a particular firm is...more
I get the fact that anyone silly enough to work for a broker-dealer knowingly chooses to live in a fishbowl. Thanks to BrokerCheck, you can very easily learn more about a registered representative than you can about, say, a...more
In the past week, I ran across two discrete instances in which FINRA acts as a secret gatekeeper of sorts, exercising its own subjective judgment, without anyone knowing what, exactly, it is doing or why, employing...more
FINRA’s mission is “investor protection.” In furtherance of that goal, FINRA has devoted significant resources to its BrokerCheck database, which allows investors to look up their broker, or potential broker, and check his or...more
Many a school child has received the awful warning to be careful lest some offense be entered on his or her “permanent record”. As required by statute (15 U.S.C. § 78o-3(i)), the Financial Industry Regulatory Authority, Inc....more
On April 25, 2017, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 17–18, Social Media and Digital Communications (the “Regulatory Notice”), addressing certain frequently asked questions...more
In Regulatory Notice 17-18, the Financial Industry Regulatory Authority, Inc. (“FINRA”) provided additional guidance, in the form of 12 FAQs, on its earlier regulatory notices relating to the use of social media and the...more
In a recent new release, the Tennessee Securities Division urged investors to ask tough questions of their investment advisors, and about their compensation, account arrangements and educational / regulatory history. The May...more
An article in this weekend’s Wall Street Journal called for FINRA to make the database underlying its BrokerCheck® system (of reports on stockbroker registration and disciplinary history) more widely available for data mining...more
Last year, the Financial Industry Regulatory Authority (FINRA), a non-governmental organization that regulates member brokerage firms and exchange markets, approved proposed Rule 3110(e), which enhances the background...more
The Financial Industry Regulatory Authority released Regulatory Notice 15-50, which discusses the Securities and Exchange Commission’s approval of amendments to FINRA Rule 2210 (Communications with the Public). The amendments...more
Effective as of December 12, the Securities and Exchange Commission has approved a change to Financial Industry Regulatory Authority Rule 8312 (FINRA BrokerCheck Disclosure) to reduce the waiting period from 15 to three...more
The Securities and Exchange Commission recently approved a rule change to amend FINRA Rule 2210 to require broker-dealers to include a “readily apparent reference and hyperlink” to BrokerCheck on their websites. The...more
The amendments require FINRA members to update their retail websites to include readily apparent references and hyperlinks to BrokerCheck. On October 8, 2015, the Securities and Exchange Commission (SEC) approved a...more
Regulatory Developments - CFPB Outlines Guiding Principles for Faster Payment Networks: On July 9, the CFPB released an outline of its guiding Consumer Protection Principles (Principles) for protecting consumers as...more
Regulatory Developments - FINRA Proposes Rule to Require Member Websites to Link to BrokerCheck: FINRA has proposed an amendment to FINRA Rule 2210 to require each of a member’s websites to include a readily...more
On May 27, the Financial Industry Regulatory Authority filed a revised rule proposal with the Securities and Exchange Commission to amend FINRA Rule 2210. Specifically, the revised proposal would require each member firm’s...more
In This Issue: - SEC Staff Releases Analysis Related to Pay Ratio Disclosure Rules - States Challenge Blue Sky Preemption Under Regulation A+ - FINRA Proposes Revised BrokerCheck Hyperlink Rule -...more
The Financial Industry Regulatory Authority (“FINRA”) is the largest independent, not-for-profit regulator of securities firms conducting business in the United States. FINRA is authorized by the United States Congress to...more
On June 23, 2014, BrokerCheck Information makes publicly available information regarding investment-related civil action(s) brought by a state or foreign financial regulatory authority dismissed pursuant to a settlement...more
FINRA is seeking to increase investor awareness of BrokerCheck, its online investor tool for researching the professional backgrounds of firms and brokers. BrokerCheck is accessible to investors and all members of the public...more
The Securities and Exchange Commission approved two changes to Financial Industry Regulatory Authority Rule 8312 relating to FINRA BrokerCheck Disclosure (BrokerCheck Rule)...more
The Financial Industry Regulatory Authority filed a proposed rule change to amend FINRA Rule 2267 to require a member firm to include a description of and link to FINRA BrokerCheck on its website, social media page and any...more
Financial Industry Regulatory Authority, Inc., or FINRA, has filed a proposed rule change with the SEC to amend FINRA Rule 2267 (Investor Education and Protection) to require that FINRA members include a prominent...more
The Financial Industry Regulatory Authority has issued an information notice reminding member firms of changes to BrokerCheck it will implement on August 23 and the steps firms and individuals may take with respect to these...more