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August 2014 Archives

Finra Being Pushed To Crackdown On Stockbrokers Who Fail To Disclose Red Flags

FINRA is being pushed by PIABA to crackdown on what brokerage firms and brokers are required to report to FINRA and what FINRA should make available on the broker reports to the public. PIABA wants additional black marks to be reported by brokers to allow investors to see potential red flags when doing a broker check on the FINRA website. The additional black items being pushed to report include personal bankruptcies in the past 10 years, criminal convictions and charges, judgment liens, fraud, theft, violations of investment-related statues, regulations as well as industry standards of conduct according to Jeane Eaglesham and Rob Barry from The Wall Street Journal. 

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