A common issue faced by registered representatives is the maintenance of current disclosure on their Uniform Application for Securities Industry Registration or Transfer (“Form U4”.)
Under Financial Industry Regulatory Authority (FINRA) rules, a registered representative is required to disclose various items on the Form U4 within thirty (30) days from the date when the event occurred. There are many required disclosures, which can range from late child support payments to tax liens and judgments. Often, registered representatives are unaware of what must be disclosed on the Form U4. Consequently, a failure to timely disclose carries serious penalties that can result in suspension, statutory disqualification, and potentially a bar from the financial industry.
If you are served with an 8210 request by FINRA related to your Form U4, it is vital to consult with legal counsel experienced in FINRA rules and regulations so that you may be apprised of your rights, your legal options, and to ultimately fight on your behalf to secure the best possible resolution. FINRA regularly preys on individuals who choose to represent themselves. Do not make that mistake as your professional license could be at stake.
At Spadea Lignana, our securities practice has handled FINRA 8210 inquiries for U4 related issues throughout investigations, evidentiary hearings and on appeal. With our experience we can guide you through the process and towards a successful resolution. Contact our firm today for a consultation.