eh flo, which CRD version did you pull and post about?
Message 23978852
lma(zz)o
i notice you ommitted the following part of
the bloomberg article in your post about it:
Message 23996992
Broker Rap Sheets Get Stalked by Other Brokers: Susan Antilla
By Susan Antilla
Oct. 24 (Bloomberg) -- Who's hot to get their hands on the sometimes-tarnished records of stockbrokers? Judicious investors and meddling journalists accounted for some of the 4.7 million inquiries about brokers' histories on a popular public disclosure system last year.
The surprise, though, is that there are people in the brokerage industry clamoring to get the dope on their peers. In fact, they want the information so badly that they're willing to risk fines and sanctions to get it.
The Financial Industry Regulatory Authority, or Finra, runs the widely used BrokerCheck, an online database of 5,100 securities firms and 672,000 brokers and other people who require a license to do business with the public....
bloomberg.com
...While the public can learn lots from Finra's disclosure system, people in the industry can learn substantially more.
With a password and the push of a few buttons, Finra members can pull up competitors' lifetime criminal histories, unedited customer complaint dossiers, and even the scores on their industry tests. If the person they're searching flunked those tests before getting a passing grade, insiders uncover that, too.
Offering Less
They are supposed to harvest that information only when a job candidate gives permission in writing....
...The complete version of Wall Street records is available through something called Web CRD, or Central Registration Depository.
Over the past year, Finra has stepped up its scrutiny of members who use the database, fining and sanctioning abusers who tap in without permission of the person they're researching....
....While some violators do tap into the industry-only database to troll for prospects, others do it for inexplicable reasons.... |
