September 8, 2009
I appreciate this opportunity to comment on the proposed rule SR-FINRA-2009-050 regarding BrokerCheck.
I am an attorney whose practice is dedicated to the representation of public investors in their claims against the securities industry. I am also a former enforcement attorney with the State of Indiana.
BrokerCheck is an important tool for the investing public. In fact, it is one of very few tools available to them when researching a potential broker, advisor or firm. Any restrictions as to time should be heavily disfavored.
The entire CRD system is based on disclosure(s). Accuracy and complete information are at the heart of the system. Investors' ability to access full and complete information on their broker or firm should not be restricted.
The information contained on BrokerCheck assists not only investors researching brokers and firms at the onset of a relationship, but also is a key source of information for those investors considering arbitration or litigation against their broker or firm sometime after the relationship has formed.
Thank you again for the opportunity to provide comment on the proposed rule change.