Next months issue of the Financial Industry Regulatory Authoritys Monthly Notice of Disciplinary and Other FINRA Actions could be a bit juicier thanks to a new rule that aims to widen the scope of what disciplinary action FINRA makes public.
The SEC gave FINRA broader authority to publish appeals, pending or withdrawn complaints, and other disciplinary matters in its monthly notice. It also allowed FINRA to publish more detailed case information on these types of actions on its public database, BrokerCheck. Today, FINRA does not publish detailed information on appeals or withdrawn complaints, for example, and BrokerCheck generally only contains a brief summary of the action. Anyone interested in obtaining a full report on a case today must petition FINRA directly for the records.
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