In response to the SEC’s approval of FINRA’s request to share more information about brokers’ disciplinary records, Patrick Mahoney was featured in the Investment News article entitled: FINRA gets OK to share more info about reps’ disciplinary records.
In short, the article highlights the fact that FINRA will now be making available even more detailed information concerning brokers’ disciplinary records. Perhaps the most alarming component of this new rule, from a brokers’ standpoint, is that FINRA can now make publicly available complaints alleging securities practice violations, irrespective of whether those complaints actually lead to disciplinary action. Indeed, such complaints can be made available, even if that complaint is eventually dismissed.
Mr. Mahoney expressed his concerns in the excerpt below:
“An attorney who represents brokers, Patrick Mahoney of the Law Office of Patrick R. Mahoney, also is leery about raising the public profile of complaints.
‘Just because a complaint is issued doesn’t mean the allegations are necessarily true,’ Mr. Mahoney said.”
You can view the Investment News article HERE.
For more information about this topic or related topics, please Email Attorney Patrick Mahoney.
**This article is intended for informational purposes only and does not constitute legal advice. Any views expressed are those of the author only.**
