FINRA Proposes Faster Disclosure of Negative Information about Broker Dealers

FINRA filed a proposal to amend FINRA Rule 8312 ("FINRA BrokerCheck Disclosure"). Under the proposed rule change, the 15-day waiting period for the release of negative information on Form U5 through BrokerCheck would be reduced to three days.

The main purpose of the reduction is to expedite public disclosures of any negative information about a broker-dealer employee.