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What You Need to Know About FINRA Rule 3270

Posted by Joel Beck | Jun 15, 2021 | 0 Comments

In a recent blog, we discussed 3 Things to Consider When Going into Business with a Partner. This week, we want to remind FINRA-registered financial advisors who are considering starting a side business or becoming involved in a corporation or LLC that they must take steps to remain in complian...

3 Things to Plan for When Going into Business with a Partner

Posted by Joel Beck | May 17, 2021 | 0 Comments

Are you considering going into business with a partner? Maybe you're coworkers striking out on your own, or best friends finally taking the leap and starting the business you've always talked about. Starting a business is exciting, even more so when you're working with a friend, but don't let the...

5 Things to Know about the Rule 8210 Letter from FINRA

Posted by Joel Beck | Apr 20, 2021 | 0 Comments

If you've received a letter from FINRA requesting information, don't take it likely. In this blog, we'll discuss five common questions about the Rule 8210 letter, and what it means for you. What is Rule 8210? https://www.youtube.com/watch?v=rIvEf9IktN8&t=144s In a nutshell, Rule 8210 requires ...

Are you a financial advisor with a criminal disclosure?

Posted by Joel Beck | Apr 05, 2021 | 1 Comment

At The Beck Law Firm, LLC, we often receive calls from financial advisors navigating the ramifications of an arrest or criminal case on their Form U4. Whether the charge is old, new, or already disclosed, they want to know what they can do to minimize the impact of the disclosure on their caree...

What Should I do about my U5 when I leave a firm?

Posted by Joel Beck | Oct 09, 2018 | 0 Comments

Today, we're going to address the question of “What should I do about my U5 when I leave a firm?” This is a great question that every financial advisor needs to consider when leaving a firm. In an earlier video, I explained what a U5 is and what it does. In today's video, we're going to spe...

What is the Form U5?

Posted by Joel Beck | Oct 08, 2018 | 0 Comments

Today, we're going to answer the question “What is the Form U5?” Technically, the form is called the Uniform Termination Notice for Securities Industry Registration, and it is used whenever a person registered with a broker-dealer or a registered investment adviser terminates his or her resignati...

I’ve been arrested. Do I need to report that on my U4?

Posted by Joel Beck | Sep 23, 2018 | 0 Comments

One of the questions we sometimes get from financial advisors goes like this, “I've been arrested. Do I have to disclose that on my Form U4?” The range of underlying events I anything from a traffic violation to a very serious offense. Generally speaking the answer is, “No,” because in most...

Why does FINRA want to take my testimony through an OTR?

Posted by Joel Beck | Sep 18, 2018 | 0 Comments

One of the questions we get from time to time is from a financial adviser who has called us and said, “FINRA wants to take my testimony, they've told me they want me to come in for an OTR. Why? Why do they want to take an OTR of me?” That's a good question. Essentially what it means when FI...

Case Study: Cleaning Up a Form U4 – August 2018

Posted by Joel Beck | Aug 09, 2018 | 0 Comments

If you're a financial adviser with negative disclosures on your Form U4 and in your CRD record, it really does make sense to see what you can do to clean that up. Those negative disclosures not only sit there and may cause problems when your prospects or clients review it, but it can also hinder ...

How does a FINRA OTR Work?

Posted by Joel Beck | Sep 25, 2017 | 0 Comments

We get calls pretty regularly from financial advisors who've been asked to come in for an OTR, or an on-the-record interview with FINRA. And in an earlier video, we explained what an OTR is. In today's short video, we'll talk about how a FINRA OTR works. If you're going in for an OTR or an ...

What to Do If Terminated by a Broker-Dealer

Posted by Joel Beck | May 01, 2017 | 0 Comments

If you've been terminated from a broker-dealer, regardless of the label placed on it such as a discharge or permitted to resign or even a voluntary termination under the cloud of an internal investigation, you've probably got some significant questions. What do I do now? How will this affect my c...

Form U4 Basics: Part Two – The Little Known Lifetime Bar

Posted by Joel Beck | Mar 04, 2017 | 0 Comments

Take a look at any month's disciplinary notices from FINRA and count the number of disciplinary actions against brokers involving violations related to their Form U4. Odds are good that you'll find at least a handful a month. What's troubling is that these violations are totally preventable. All ...

Form U4 Basics: Part Three – Criminal History Disclosures

Posted by Joel Beck | Mar 04, 2017 | 0 Comments

As we continue to review basic information regarding the Form U4, in this post, we'll address some disclosable events regarding criminal history disclosure. Generally speaking, the Form U4 is a very straightforward document, when taken together with the official instructions for completion of the...

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