Costello Law Group
Representing Clients Nationwide – Free Initial Consultations
Local 410-832-8800 Toll Free 877-418-0003

FINRA's Efforts to Minimize Rogue Brokers

The Financial Industry Regulatory Authority (FINRA) has reported that they will begin to put more focus on high risk brokers in an effort to improve investor protection. FINRA currently licenses 634,955 brokers, and of those 634,955 only 487,480 brokers possess clean records. The Wall Street Journal reported that at least 70,000 brokers have reportable offenses on their publicly available disciplinary record, known as their "CRD" and about 2,695 brokers have five to nine complaints and or regulatory actions on their record. In order to improve investor protection, FINRA uses an analysis called the "broker migration model" which traces brokers that have worked for firms that were expelled from the industry. So far under the new program, FINRA has barred sixteen brokers.

If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.

To read more, please visit: .

No Comments

Leave a comment
Comment Information

Seek Legal Assistance

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

409 Washington Avenue Suite 410
Towson, MD 21204

Toll Free: 877-418-0003
Phone: 410-832-8800
Fax: 410-832-8807
Towson Law Office Map