For FINRA member firms, and employees of FINRA firms (even those who are not registered) FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books) gives FINRA the authority to request documents and testimony from firms, registered persons and, in FINRA’s view, other persons and entities related to a registered person or entity.
The response to the request is important. First, if there is no response, FINRA will seek a permanent bar of the individual, and a suspension of the firm if the request is to the firm.
But simply responding is not the answer – the response needs to be well thought out, and carefully addressed.
Read our analysis here,
Mark J. Astarita, Esq. is a securities lawyer who represents investors, financial professionals and firms in litigation, arbitration and regulatory matters across the country. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at mja@sallahlaw.com or by phone at 212-509-6544.
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Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.
