For FINRA member firms, and employees of FINRA firms (even those who are not registered) FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books) gives FINRA the authority to request documents and testimony from firms, registered persons and, in FINRA’s view, other persons and entities related to a registered person or entity.
The response to the request is important. First, if there is no response, FINRA will seek a permanent bar of the individual, and a suspension of the firm if the request is to the firm.
But simply responding is not the answer – the response needs to be well thought out, and carefully addressed.
Read our analysis here,
You may also be interested in:
- Regulation FD FAQ
- 10b5-1 Plans Under Attack –
- The Wells Notice SEC/FINRA Investigations
- Overview of the Securities Arbitration Process
- Was the Account Churned?
- SEC Subpoena, FINRA OTR – What do I do?
- Rule 8210 – How You Respond Makes a Difference
- Removing Customer Complaints and Firm Disputes from BrokerCheck
- Whistleblowers Need Lawyers
- Interactive Brokers With Failing to File Suspicious Activity Reports
Mark J. Astarita, Esq. represents investors, financial professionals and firms in litigation, arbitration and regulatory matters across the country. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at email@example.com or by phone at 212-509-6544.
Follow us on Twitter, Facebook and The Securities Law Blog .