According to an article in AdvisorOne magazine, FINRA is asking the SEC to approve further amendments to BrokerCheck, which includes requiring firms to include a reference and a link to BrokerCheck on their websites.
The proposed changes were announced in a letter, dated September 14, from FINRA CEO Richard Ketchum. The amendments affect FINRA’s Investor Education and Protection Rule 2267. Amendments have also been proposed to the BrokerCheck Disclosure Rule 8312, making information easier to access regarding investment-related civil actions brought against associated persons by a state or foreign regulatory authority that have been dismissed pursuant to a settlement agreement.
The recent proposals follow additional changes FINRA made to BrokerCheck in May, which included aiding investors access broker-dealer and investment advisor registration information by providing:
- centralized access to licensing and registration information on current and former brokers and brokerage firms, and investment advisor representatives and investment advisor firms;
- the ability to 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 increments of 5, 15 or 25 miles); and
- access to expanded educational content available on BrokerCheck, including new help icons that clarify commonly referenced terms throughout the system and within BrokerCheck reports.