Check Your Broker – FINRA Disclosures

The Financial Industry Regulatory Authority (FINRA) created internet access through its website to FINRA Broker Check which provides updated information concerning a financial advisor’s required public disclosures. The disclosures are made a public record to protect the interests of investing public to provide information about “the professional backgrounds of current and former FINRA-registered brokerage firms and brokers.” FINRA Broker Check also includes information about financial advisors who are registered with as Registered Investment Advisors (RIA) or Registered Investment Advisor Representatives (IAR).

The importance of the information provided by FINRA is to help investors to decide whether they should enter into relationships with a particular brokerage firm and/or financial advisor, or to maintain an existing financial advisory relationship based on current disclosure available on the FINRA Broker Check website. According to the FINRA Broker Check website, “FINRA oversees the people and firms that sell stocks, bonds, mutual funds and other securities. Simply type in your current or prospective broker’s name to see employment history, certifications, and licenses—as well as regulatory actions, violations or complaints you might want to know about. You also can get information about your broker’s firm. There’s no reason not to check.”

The FINRA Broker Check website information is derived from the Central Registration Depository (CRD®), the securities industry online registration and licensing database. The latest disclosures contain information on current and former FINRA-registered brokers and current and former FINRA-registered brokerage firms. To learn more about a current or potential brokerage firm and/or financial advisor or to learn about any public information about a brokerage firm and/or financial advisor on the FINRA Broker Check website for:

  • Employment History;
  • Securities Licenses Held;
  • State Licensed to Conduct Business;
  • Bankruptcies and Credit Problems;
  • Regulatory Actions; and
  • Customer Complaints.

KlaymanToskes is a securities litigation law firm dedicated to the protection of investor rights. We can help investors who have suffered damages as the result of brokerage firm and financial advisor violations of FINRA sales practice rules and regulations.

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