FINRA Enforcement

broker defamation

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 documents and information (an “8210 Request”) and often for an On the Record Interview (“OTR”) is a significant event.  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 receive a FINRA Document Request, or 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

Rule 8210 – How You Respond Makes a Difference

SEC Subpoenas – Tips for Responding

How Do I Respond to a Wells Notice

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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.