The SEC released updates to Form CRS in 2020 with additions to their Form CRS FAQ, this time focusing on the Disciplinary History section. After so many updates, it is a good idea to go back through to refresh your memory.
Failure to timely update information on an individual form U4 may lead to potential fines and suspensions for a registered person, especially if the act is willful. Examinations and sweeps performed by FINRA generally reveal exceptions.
The SEC recently approved amendments to FINRA Rule 2210 (Communications with the Public) which require broker-dealers to include a readily apparent reference and hyperlink to FINRA BrokerCheck on the initial web page viewed by retail investors, and any other web page that includes a professional profile of one or more registered persons who conduct business with retail investors. The rule amendments creating this new requirement were effective June 6, 2016. Read More…