Skip to main content

Tips to Avoid Trouble When FINRA Makes a Request for Your Records

You don’t want to mess with FINRA when it comes to rule 8210 (provision of information and testimony and inspection and copying of books ) requests for information and documents. Yet such requests can be oppressive. E-mail requests alone can present huge and costly challenges.

First, know that rule 8210 is FINRA’s most basic investigative tool. Respond appropriately – unless you plan on exiting the industry. This year alone rule 8210 violations have factored into more than 50 disciplinary actions by the SRO, an IA Watch review shows. In its 2015 exam priorities letter, FINRA cites a growing number of cases where firms “have repeatedly failed to provide timely responses” to rule 8210 requests and warns that “production failures expose firms to disciplinary action.”

Continue reading via the View Media link.