Skip to main content
Menu Icon
Close

InfoBytes Blog

Financial Services Law Insights and Observations

Filter

Subscribe to our InfoBytes Blog weekly newsletter and other publications for news affecting the financial services industry.

  • FINRA issues enhancements to disclosure review process for public records

    Securities

    On May 18, the Financial Industry Regulatory Authority (FINRA) issued a notice covering enhancements to its disclosure review process. According to the notice, the enhancements will allow firms, for purposes of compliance with public record search requirements, to rely on FINRA’s verification process. Specifically, beginning on July 9, FINRA will conduct a public records search for bankruptcies, judgements, and liens within fifteen calendar days of receiving a firm’s Uniform Application for Securities Industry Registration or Transfer (Form U4). FINRA will provide any information to the firm that is different from what was provided on the Form U4. FINRA expects these enhancements to (i) reduce the cost associated with public records searches for firms; (ii) result in timelier reporting of disclosure information; and (iii) significantly reduce late disclosure fees.

    Securities FINRA Public Records

Upcoming Events