FINRA To Open Records On Discipline Against Brokers

Law360, New York (November 17, 2009, 5:05 PM EST) -- The Financial Industry Regulatory Authority has won the right to permanently publicize the records of disciplinary actions against brokers.

Having received approval from the U.S. Securities and Exchange Commission, FINRA will expand its BrokerCheck service to make records of “final regulatory actions” against brokers available regardless of whether they’re employed in the securities industry, it said in a statement issued Tuesday.

Under current rules, a broker’s record generally becomes unavailable to the public two years after he leaves the securities industry, FINRA said.

FINRA will open...
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