Did you know that FINRA publishes disciplinary actions issued during 2006 or later, as well as opinions issued by the SEC and federal appellate courts that relate to FINRA disciplinary actions that have been appealed? You can find them by searching the FINRA Disciplinary Actions Online database – http://disciplinaryactions.finra.org/ – using any combination of the following criteria:
- Case Number
- Document Text
- Date Range
- Document Type
- Individual Name or
- CRD#Firm Name or CRD#
The documents available through this site do not all represent final actions, and a document’s availability on this site does not necessarily indicate that the action has been fully resolved. Documents available through this site that represent final and fully resolved actions include: (1) FINRA Orders Accepting Offers of Settlement;(2) Letters of Acceptance, Waiver and Consent (AWCs); and (3) decisions issued by FINRA, the SEC, and federal appellate courts if no timely appeal from the decision has been filed. FINRA Complaints, which are also available on this site, do not represent final or fully resolved actions.
In conducting due diligence about the competence and integrity of your broker, you definitely should take a few minutes to run his or her name through the database. And don’t forget to review his or her CRD as well. This employment record, which includes complaint, discipline, and termination information, can be found at FINRA BrokerCheck: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/ .
Hugh Berkson is a Securities Attorney with McCarthy, Lebit, Crystal & Liffman, Co. LPA. Hugh is rated AV® Preeminent™ by Martindale-Hubbell®.
He obtained a business degree in Finance from the University of Texas at Austin in 1989, and is a 1994 graduate of Case Western Reserve University School of Law, where he was a member of the Order of the Barristers and received both the American Jurisprudence Award, (National Mock Trial) in 1993 and the Jonathan M. Ault Mock Trial Prize for 1993-1994.