09.19.21
FINRA CEO, SEC Commissioner Call for 'One-Stop' Regulatory Database
by: Tobias Salinger
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 Lee and Cook also indicated a desire to resume amending the expungement process after FINRA rescinded a proposed revision earlier this year.
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