Posts tagged BrokerCheck.

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 26 release is here.

SEC-registered investment advisors are required to provide the answers to those (and other) questions on their ADV Part 2, which is kept on file with the SEC and publicly-available through the Commission's IA Public Disclosure Portal, here. Information on registered broker-dealers and their associated persons is available through ...

Posted in: FINRA, SEC, Tennessee

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 and analysis by public-sector participants.

The article roundly criticized FINRA's interface that limits public access to peep-show, one-broker-at-a-time reports: "In the age of Big Data, it is time to liberate the BrokerCheck files. Only when information is set free can it turn into insight." J. Zweig, "Is Your Stockbroker Great or Mediocre?" Wall ...

Posted in: FINRA, MSRB
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 hyperlinks and references to BrokerCheck would be required for all webpages where a registered person's profile information appears, including webpages on the member's website and webpages on a branch office's website. This is an important development because BrokerCheck is a site for investors to conduct due diligence on broker and broker-dealers. Two FINRA ...
Posted in: FINRA, SEC

The Financial Industry Regulatory Authority ("FINRA") recently issued an Investor Alert (the "Alert") to warn investors about the most prevalent types of investment fraud and provide guidance on how to avoid being defrauded. According to the Alert, the five (5) most common fraudulent investment schemes tend to fall into the following general categories:

Pyramid Scheme: A fraudulent ploy in which a small investment is promised to yield large profits within a short period in time, but, in reality, investors only make money if they successfully recruit new investors into the ...

Posted in: FINRA

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 agreement about former associated persons of a FINRA member firm that were registered on or after August 16, 1999. Established in 1988, the public disclosure program known as BrokerCheck assists investors in making informed choices about the individuals and firms with which they conduct business. Past settlements will now be disclosed publicly for ...

Posted in: FINRA
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