Broker- Dealer Law Corner

Broker- Dealer Law Corner

Category Archives: BrokerCheck

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Quick Hits: That’s Right. The Hits Keep Coming for Registered Individuals

Posted in Arbitration, BrokerCheck, FINRA, Form U-4, Registered Representative
A couple of events caught my attention this week and, since they are related, I thought I’d address them together. On Monday, the SEC announced a proposed rule change to FINRA Rule 8312, the FINRA BrokerCheck Disclosure Rule. Rule 8312 permits FINRA to disclose certain information on BrokerCheck about registered individuals. As many of you… Continue Reading

U-4 Omissions and Statutory Disqualification: Much Ado About Nothing

Posted in BrokerCheck, FINRA, Form U-4, Statutory Disqualification
I have discussed in prior blogs some issues with the process of registering individuals, and ensuring that information on U-4 is complete and accurate. To some degree, the debate is a bit silly, if the question is whether there is enough information provided on BrokerCheck. There is a real problem, however, one that is much… Continue Reading

Problems with Registration of Registered Reps, Part 1: Does Anyone Actually use BrokerCheck?

Posted in BrokerCheck, FINRA, Form U-4
I read with great interest the recent flurry of articles in the financial news, including one appearing on the front page of the Wall Street Journal, about the supposed flaws with FINRA’s BrokerCheck due to the fact that it omits from public view some items, e.g., certain misdemeanor convictions and financial issues (unsatisfied liens or… Continue Reading