FINRA Members to Investigate FINRA U-4 Applicants
FINRA approved new rules that require member firms to verify the accuracy of information provided by applicants on FINRA U-4 applications. Additionally, FINRA will also review public financial records for all registered representatives who have not been fingerprinted within the prior 5 years.
FINRA’s new rules require firms to adopt new written procedures to verify information from public sources of available information for criminal, bankruptcy, and litigation records of applicants.
Member firms should adopt compliance policies and procedures to conduct the required background checks to avoid FINRA sanctions.
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
Hamilton & Associates | Securities Lawyers
Brenda Hamilton, Securities Attorney
101 Plaza Real South, Suite 202 North
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855