New tool available to check investors’ records

BDN staff reports
Posted May 20, 2011, at 4:23 p.m.

AUGUSTA, Maine  —  Investors and businesses have an additional tool at their disposal to research the background and disciplinary history of licensed stock brokers and investment advisers, Maine Office of Securities Administrator Judith Shaw announced this week.

The recently launched online database from the Financial Industry Regulatory Authority is a web-based searchable system that makes FINRA disciplinary actions accessible directly online.

Shaw explained that the database benefits the public by increasing the transparency of and access to FINRA’s files on stock brokers and investment advisers who have been involved in disciplinary actions.  The public is now able to quickly search, download, print or read FINRA actions free of charge, seven days a week.

Users may search the system in a variety of ways, including by individual broker name and Central Registration Depository (CRD) number, or by firm name and CRD number, as well as by case number or action date (by date range).  Previously, the public had to contact FINRA to obtain copies of disciplinary actions.

For more information, call 1-877-624-8551.

http://bangordailynews.com/2011/05/20/business/new-tool-available-to-check-investors-records/ printed on December 25, 2014