Q:

How do you use FINRA BrokerCheck?

A:

Quick Answer

To use FINRA BrokerCheck, put the broker's name, firm and location into the search tool at BrokerCheck.finra.org to get information regarding the broker's certifications, licenses, employment history and any regulatory violations or complaints. BrokerCheck does not provide opinions or advice regarding brokers or firms, according to FINRA.

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Full Answer

BrokerCheck obtains its information from the Central Registration Depository and the SEC's Investment Adviser Registration Depository, explains FINRA. The amount of available information varies depending on whether the broker is currently registered with FINRA or has been within the last 10 years. The information on active brokers and firms typically is current, due to a requirement that brokers update their information in the CRD within 30 days of a change or disciplinary action.

The report from BrokerCheck includes current registrations and licenses, industry exams the broker has passed and a 10-year employment history including work outside the securities industry. The disclosure section of the report contains details regarding any criminal, civil or regulatory action for which a court or regulatory agency found the broker responsible, states FINRA. The report also includes any available comments from the broker regarding the information within the report. It does not include information that is personal, confidential or for which reporting is no longer required.

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