Find Out the First Things to Do When Being Investigated by FINRA

Investigated by FINRA

If you’re working as a broker and FINRA begins an investigation concerning your activities, you need to seek legal help and counsel immediately. You won’t be able to navigate through the legal process unless you’re backed by someone with legal experience. Investigated by FINRA-

Why You Need to Talk to a Lawyer Immediately

When the Financial Industry Regulatory Authority (FINRA) conducts an investigation, you need to take things seriously. The financial regulatory body represents the single largest financial regulatory entity, operating independently, in the U.S. FINRA oversees the activities of over 3,500 brokerages. It also reviews the activities of registered securities representatives. 

If FINRA has targeted you for professional misconduct, you need to speak to a FINRA defense lawyer about your case and the facts surrounding it. This is important to do, as your lawyer may be able to get your charges dropped or negotiate a plea bargain on your behalf. 

FINRA’s Role in Regulating Trading

FINRA currently regulates the trading of futures, options, bonds, and equities. The agency can ban or fine brokers and brokerages which violate its regulations. FINRA also gives the qualifying exams for Series 7  (general trading) and Series 3 (commodities futures) licensing.

FINRA Imposed Fines and Violations- Investigated by FINRA

Investopedia states that FINRA assessed fines in the amount of almost $40 million against brokers and brokerage firms that violated industry rules in 2019. During that year, the agency also directed almost 830 insider trading and fraud cases for the Securities and Exchange Commission (SEC) and other governmental agencies to prosecute.

Learn More about FINRA on the Spodek Law Group Website

You can learn more about FINRA criminal defenses on the Spodek Law Group website. The firm is well versed in white collar defenses that concern FINRA investigations and charges. 

FINRA is a watch dog in the securities industry designed to safeguard investors from the unethical conduct of brokers or brokerage houses.

FINRA enforcement officers review possible securities violations to ensure ethical trading. If they discover a legal issue, they will take disciplinary action without delay. In turn, the agency may impose punishments, including fines, suspensions, restitution, or the barring of broker activities if the violation is serious.

FINRA’s Mission in the Securities Industry

The main goal of FINRA is to protect trading customers. Therefore, it is important to keep this in mind if you’ve been charged with a violation. Most FINRA investigations are therefore sparked by client allegations made against a brokerage firm or broker. 

Most of the disclosures are financial and relate to a disagreement or a lien. Other inquiries or actions may result from judgments rendered against a stock advisor.

Obtain Legal Counsel Today If FINRA is Reviewing Your Broker Activities

A FINRA investigation can lead to serious repercussions if you don’t speak to a lawyer. Don’t delay getting legal advice and counsel. Know your legal rights and what defenses are available to you. You can only do this by contacting a legal firm that is well versed in defending FINRA charges for professional impropriety or securities misconduct.





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