Securities Arbitration Lawyers BlogReuters Analyzes FINRA BrokerCheck Data to Compile List of High-risk Brokerage Firms After FINRA Fails to Disclose Said Information
A Reuters investigation team ran a story on June 12, 2017 concerning high-risk brokers and brokerage firms and compiling a list of the firms with highest percentage of brokers with BrokerCheck disclosures.
The FINRA BrokerCheck tool allows users to search specific brokerage firms and brokers to see a variety of information such as location, ownership, outside business activities and, most importantly, FINRA disclosures.
There are a total of 23 types of incidents that might give investors concern, such as regulatory sanctions, lawsuit judgments and bankruptcies. Unfortunately, the information, while very helpful, leaves out bulk information about which brokerage firms have a higher percentage of brokers reporting these incidents.