What is considered a customer complaint finra?
(b) For purposes of this Rule, “customer complaint” means any grievance by a customer or any person authorized to act on behalf of the customer involving the activities of the member or a person associated with the member in connection with the solicitation or execution of any transaction or the disposition of …
What is a 4530 filing?
FINRA Rule 4530 (Reporting Requirements) requires firms to report to FINRA specified events, such as a settlement against a firm in excess of $25,000, and quarterly statistical and summary information regarding written customer complaints.
What do I have to report to finra?
FINRA Rule 4530(b) requires a firm to report to FINRA within 30 calendar days after the firm has concluded, or reasonably should have concluded, on its own that the firm or an associated person of the firm has violated any securities, insurance, commodities, financial or investment-related laws, rules, regulations or …
What needs to be reported on a U4?
In Items 14A and 14B of the U4, applicants must disclose information about certain criminal charges and convictions, including disclosure of all felony convictions and certain misdemeanor convictions. Even if you were not convicted, you are instructed to disclose the charge for the identified offenses.
What happens when you file a complaint with FINRA?
FINRA investigates complaints against brokerage firms and their employees. We are empowered to take disciplinary actions against brokers and their firms. Sanctions may include fines, suspensions, a bar from the securities industry or other appropriate sanctions.
What is FINRA reporting?
The Report Center provides firms with secure access to data and reports that help firms detect potential compliance problems early. FINRA Report Center provides report cards that cover a variety of topics and rulesets. FINRA Staff can view all reports and usage logs for all participating firms.
What is an associated person under FINRA?
The term “Associated Person” means: (1) a natural person registered under NASD Rules; or (2) a sole proprietor, or any partner, officer, director, branch manager of the Applicant, or any person occupying a similar status or performing similar functions; (3) any company, government or political subdivision or agency or …
Who reports to FINRA?
All broker-dealers who are FINRA member firms have an obligation to report transactions in TRACE-eligible securities under an SEC-approved set of rules.
How do I report a financial advisor to FINRA?
What if an investor wants to speak with someone at FINRA before filing a complaint? Seniors who have questions or concerns about their investment accounts may call the FINRA Securities Helpline for Seniors® at 844-57-HELPS (844-574-3577).