When considering disclosure obligations that you have as a financial advisor, don't limit your thoughts to just the Form U4 and the ADV. There may be other obligations including insurance commissioners' offices, insurance carriers, professional societies and more. In this short video blog, we'll discuss some disclosure obligations beyond the U4 and ADV.
In this short video, Joel Beck discusses disclosure of customer complaints, arbitration and litigation cases on a financial advisor's Form U4, highlighting areas where problems may arise when disclosing these items.
Each month, you'll likely find reports of enforcement actions against financial advisors for violations relating to their Form U4. But did you know that many times these actions result in the advisor being effectively barred from the industry due to a statutory disqualification? Learn about this little known lifetime bar due to Form U4 violations.
The U4 is more than a once in a career document for financial advisors. You can't complete it and forget it. In this blog post series on U4 Basics, attorney Joel Beck provides an overview of the Form U4, discusses common problems advisors face when completing it, and addresses the serious regulatory examinations and enforcement actions that financial advisors can face due to regulatory violations concerning their Form U4.