FINRA reviews the information disclosed on the Form U4 to determine whether an applicant is subject to a “statutory disqualification” or whether the applicant otherwise presents a regulatory ...

Compliance How to handle this quirk in FINRA’s recordkeeping system By Alan J. Foxman March 06, 2018, 1:54 p.m. EST 2 Min Read ...

Rather than a mere oversight or inadvertent omission, the AWC alleges that Emslie willfully failed to disclose the material fact of the bankruptcy petition on his Forms U4, in contravention of ...

Finra and the industry need to reevaluate the background requirements for entry into the industry. Minor blemishes should not result in automatic rejection, especially for incidents prior to the ...

Compliance Amend an important FINRA form, 10 years after filing? By Alan J. Foxman September 11, 2018, 10:47 a.m. EDT 2 Min Read ...

Merrill Lynch failed to file or timely file approximately 300 non-NASD/FINRA arbitrations and criminal and civil complaints that it received for approximately three years. From July 2007 to June 2009, ...

The AWC alleges that these U4 disclosure issues constituted violations of Article V, Section 2 (c) of FINRA's By-Laws and FINRA Rules 1122 and 2010. PST ...

FINRA will continue to notify firms if the Form U4 is missing information or contains discrepancies. The difference is that those notices will be much timelier and useful, since firms are required ...

2. FINRA should coordinate Form U4 amendments with Rule 4530 filings to reduce duplicative paperwork. 3. FINRA should clarify when firms need to self-report under FINRA Rule 4530.