According to FINRA’s public statements, one of its top priorities is enforcement of its rules, as well as the federal securities laws. FINRA investigates activity which is believes may indicate a securities law violation, and files disciplinary proceedings against firms and their associated persons to address such violations.
A FINRA investigation, which typically starts with a request for an On the Record Interview (“OTR”) is a significant event, as FINRA Enforcement has the authority to fine, suspend or bar brokers and firms. FINRA also has the ability to work with law enforcement which can lead to criminal charges
FINRA’s investigations arise from many sources, including U-5 filings, routine firm examinations, customer complaints, anonymous tips, and referrals from other regulators.
If you are called into a FINRA OTR, you need to be represented by an experienced securities attorney. Your livelihood may be at stake.
For additional information, read
- Expungement Rules Changing
- New FINRA Expungement Rules Effective in September
- Court Orders Uber to Classify Drivers as Employees
- Interactive Brokers With Failing to File Suspicious Activity Reports
- Whistleblowers Need Lawyers
- SEC Subpoenas – Tips for Responding
- Regulation Best Interest (Regulation BI) Compliance Due June 30, 2020
- Introduction to Regulation Best Interest
- Removing Customer Complaints and Firm Disputes from BrokerCheck
- Lessons in Zoom meeting safety: Useful tips for advisors and clients during the coronavirus pandemic
Introductions and Primers
- What is Securities Arbitration?
- Overview of the Securities Arbitration Process
- Finders Explained – Be Careful
- Federal Securities Law, a Securities Lawyer Guide
- Introduction to State Securities (Blue Sky) Laws
- Expungement of Customer Complaints
- Guide to Broker-Dealer Registration
Mark Astarita, a partner in the national securities law firm of Sallah Astarita & Cox, represents broker and firms across the country in FINRA investigations and disciplinary proceedings. To see how he can help you with a FINRA issue, email him or call his office at 212-509-6544.