Investment News quoted Washington, D.C., partner Emily Gordy on steps the Financial Industry Regulatory Authority (FINRA) has taken to strengthen background checks for newly hired brokers.
FINRA will begin conducting a review of public financial records within 15 days of a brokerage submitting a registration application, Investment News reported in a July 5 story. Having FINRA assume responsibility for the review will improve BrokerCheck public database, said Gordy, a former FINRA senior vice president for enforcement.
“This is significant because of the ability of FINRA to do it on a scaled and consistent basis,” she added. “It will lead to greater investor protection.”
Gordy also was quoted in a May 15 story on how FINRA determines the fines it levies against firms that violate its rules.