FINRA Cuts Waiting Time for Bad Boy Information (FINRA Reg. Notice 15-49)

FINRA Rule 8312 (FINRA BrokerCheck Disclosure) was changed to reduce the waiting period for the release of certain information reported on Form U5 (Uniform Termination Notice for Securities Industry Registration) through BrokerCheck from 15 to 3 business days. BrokerCheck provides the public with information on the professional background, business practices, and conduct of FINRA member firms and their associated persons, as well as on firms and their associated persons registered with national securities exchanges that use the Central Registration Depository.

The rule change will become effective on December 12, 2015.