Understanding a FINRA Exam, Part 4 – AWC

In this fourth installment of our video blog series on understanding a FINRA exam, attorney Joel Beck discusses the pre-complaint settlement tool utilized by FINRA, the Letter of Acceptance, Waiver and Consent (AWC) and shares some of the key features of this settlement, together with a word of caution The AWC is a formal disciplinary action and will create a reportable disciplinary history for the registered representative or associated person. As such, these should not be entered into lightly, but only with an understanding of the options and an analysis of the facts, circumstances and law with your legal counsel.

To learn more about FINRA exams, be sure to view our other videos in this series.

Please understand that these videos are designed to answer some common, basic questions but they are not a substitute for legal advice. Before signing an AWC, consult with experienced counsel to make sure that it an appropriate course of action for you, given the facts of your situation and case.

For more information, be sure to download Joel Beck’s ebook, A Stockbroker’s Guide to Regulatory Investigations, from www.brokerdefender.com. And if you’d like to speak with an experienced lawyer about your FINRA exam matter, contact The Beck Law Firm, LLC at 678-344-5342.