Finra checks off more boxes with improved BrokerCheck

Finra checks off more boxes with improved BrokerCheck
Additional features aimed at boosting ease of use, robustness of adviser database
MAY 25, 2012
The Financial Industry Regulatory Authority on Wednesday announced that it has added features to BrokerCheck to make the database more user friendly. Several changes implemented by Finra were based on recommendations made in a January 2011 study by the Securities and Exchange Commission Among the additions, users now have centralized access to licensing and registration information on current and former brokers and brokerage firms, and investment adviser representatives and investment adviser firms. In addition, investors can search for and locate a financial services professional based on main office and branch locations, and the ability to conduct ZIP code radius searches. In a statement, Derek Linden, Finra executive vice president, registration and disclosure, said, "Finra is constantly looking for new ways to make BrokerCheck easier to use and to make the information more accessible to investors." In February 2012, Finra issued Regulatory Notice 12-10, asking for comments on ways to boost investor use of BrokerCheck. The comment period ended on April 27. The self-regulator is currently reviewing the 71 comments received.

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