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FINRA BrokerCheck Sets Sights On Former Brokers

Law360 (April 27, 2009, 12:00 AM EDT) -- The Financial Industry Regulatory Authority has proposed an update to its BrokerCheck service that would make all records of final regulatory actions against brokers permanently available to the public, even if they no longer work in the securities industry.

The proposed rule is a departure from current FINRA policy, which generally removes public access of a broker’s record from BrokerCheck two years after he or she has left the securities industry.

BrokerCheck enables potential investors and consumers to look up the qualifications and disciplinary history —...
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