FINRA Board Approves Amendment to Supervision Rule Requiring Firms to Conduct Background Checks on Registration Applicants

Source: FINRA Newsroom

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved amendments to FINRA's supervision rule that would expand the obligations of firms to check the background of applicants for registration, including first-time applications as well as transfers, to verify the accuracy and completeness of the information contained in an applicant's Form U4.

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