INRA (the Financial Industry Regulatory Authority) takes disciplinary actions against firms and individuals for violations of FINRA and NYSE rules; federal securities laws, rules, and regulations; and the rules of the Municipal Securities Rulemaking Board. These actions range from mere censures to a bar from the securities industry. Please note that many of the reported disciplinary incidents result without the individual having admitted or having denied the allegations, having submitted what is called an "Acceptance, Waiver and Consent".

FINRA also publishes complaints that have been filed, but issues this disclaimer:

"FINRA takes disciplinary actions against firms and individuals for violations of FINRA rules; federal securities laws, rules, and regulations; and the rules of the Municipal Securities Rulemaking Board. On July 30, 2007, NYSE Regulation’s member regulation oversight functions were consolidated with FINRA to form the Financial Industry Regulatory Authority (FINRA). Certain staff and functions of NYSE Regulation’s Enforcement division have transferred to FINRA Enforcement. NYSE Member Firm Rule violations by NYSE member organizations will now be investigated and prosecuted by FINRA Enforcement. Trading violations that occur on or through the systems and facilities of the NYSE, and other Exchange rule violations, will continue to investigated and prosecuted by NYSE Regulation’s Enforcement division. All enforcement actions filed with the Hearing Board by NYSE Regulation Enforcement prior to the merger will be prosecuted under NYSE Rules and federal securities laws until concluded."

On FinancialCounsel.com we report only complaints issued as well as disciplinary incidents against individuals which, at a minimum, have resulted in suspensions of 1 year or greater.

Search here for brokers with significant disciplinary incidents or complaints filed against them:

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

DISCLAIMER