FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books) gives FINRA the right to inspect and copy the books, records and accounts of member firms, associated persons and other persons over whom FINRA has jurisdiction relating to investigations, complaints, examinations or proceedings. FINRA Staff believes that the the rule permits wide, sweeping and nearly limitless document requests, not simply documents relating to compliance with just and equitable principles of trade, other FINRA rules, SEC rules, MSRB rules and the federal securities laws.The Rule is FINRA’s primary tool to obtain information for investigations, and receipt of such a request should not be treated lightly and those investigations can lead to a Wells Notice and an enforcement proceeding.

FINRA Rule 210 requests are negotiable, within limits, and firms and individuals would be well served to retain an experienced securities attorney before responding to the request.

See, also 8120 Requests, How You Respond Makes a Difference.

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Mark Astarita

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Mark Astarita

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