FINRA Considers BrokerCheck Improvements

Discussion in 'Wall St. News' started by Options12, Mar 6, 2012.

  1. Options12

    Options12 Guest

    Until now, Finra has guarded its disciplinary data carefully, limiting use to one-off data requests by individuals. It blocks the BrokerCheck database from automated downloading technology like screen-scraping.

    Critics believe this restriction has helped the industry avoid embarrassing revelations about troublesome brokers and firms. Release of the data is “clearly sensitive for member firms,” said Mike Alfred, founder of Brightscope Inc., which last year launched a broker-rating service that includes disciplinary information.