The Basics of a FINRA Exam – Part 1

I often represent individual brokers and firms that are involved in an examination or investigation (those words are often interchangeable) by FINRA, the Financial Industry Regulatory Authority. Many times, I find that brokers don't understand the role that FINRA plays, what their own responsibilities and obligations are, and what can come about as a result of a FINRA examination. With a series of posts on the basics of a FINRA investigation, I hope to be able to provide some basic information for brokers and firms so that they can better understand the process, and the possible outcomes.