Regulatory Outlook | 09.19.21
FINRA CEO, SEC Commissioner Call for 'One-Stop' Regulatory Database
SEC Commissioner Allison Herren Lee and FINRA CEO Robert Cook have urged the establishment of a single public database for financial advisors and broker-dealers' regulatory disclosures rather than the current fragmented scheme. They expressed a preference for a "one-stop shop" and consolidation among BrokerCheck, the Investment Adviser Public Disclosure website, and other government and self-regulatory databases designed to give clients and prospects a place to review firms and financial professionals. Lee and Cook also indicated a desire to resume amending the expungement process after FINRA rescinded a proposed revision earlier this year.
Read the full article on Financial Planning