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My case was referred to FINRA Enforcement. What does that mean?

Posted by Joel Beck | Jan 23, 2017 | 0 Comments

You've corresponded with FINRA and answered some questions they had, or provided them a written statement about a matter. Now, you've received a letter from FINRA stating that they have referred your case to the Enforcement Department. What does that mean, and what might you need to do? In the short video below, attorney Joel Beck shares some general thoughts about that question.

Usually, getting a letter like this simply means that FINRA wants to continue investigating the situation. And it may mean that they think that it is possible that there may be some rule or regulation violation that could form the basis for a disciplinary action – maybe against you, another representative, a supervisor, a firm, or some combination of those. To determine whether they think there was a violation, they need to continue to review the situation, and to obtain additional information and documents. To that end, they may come back to you with another letter seeking answers from you in writing, they may ask to interview you or take your testimony on-the-record, or they may ask you for various documents and records. If you haven't yet consulted with an attorney experienced in FINRA regulatory matters, now is a good time to do that, so that you can work towards the most favorable outcome, while protecting your reputation and career to the greatest extent possible. Remember that FINRA exams are serious, and can have a significant impact on your career.

If you're facing a FINRA exam and need to speak with an experienced regulatory attorney, we invite you to contact The Beck Law Firm, LLC. We'd be happy to speak with you for a few minutes and see if we might be of assistance to you.

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About the Author

Joel Beck

Joel Beck founded The Beck Law Firm, LLC in 2007. His firm focused on business law and estate planning needs of clients, two areas that he was drawn to based upon personal and business experiences in his life, including a ten-year career at NASD (now known as FINRA).


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