SEC approves FINRA background check proposal

In late December, the U.S. Securities and Exchange Commission “approved a FINRA proposal that requires brokerages to strengthen the background reviews they conduct on new hires,” reports Investment News.

Based on that proposal, “both for new registrants and those newly hired, firms must conduct a search of ‘reasonably available public records,’ such as those pertaining to criminal history, bankruptcy, [and] civil litigation,” among other documents. Read more.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.