CA financial professionals and FINRA: some points to note

CA financial professionals and FINRA: some points to note

On Behalf of | Dec 29, 2020 | Ethics & Professional Responsibility

It is readily apparent that California financial professionals comprise a group of closely regulated individuals.

For starters, money managers – investment advisers, brokers, accountants and others – don’t embark on their public-facing careers without first negotiating an arduous vetting process.

That’s means licensing, which can be secured only after competence has been proven through educational attainments and test success. Professional licenses are not casually conferred in California, and the requirements linked to licensure in the financial realm are notably stringent.

Ongoing scrutiny of a financial professional hardly ceases following approval to practice. Industry regulators closely oversee licensees and are quick to act upon consumer complaints of fraud and other acts of wrongdoing.

We duly note that point at the proven California license-defense offices of the Century Law Group. We stress on our website that licensees can easily find themselves “the subject of an examination or investigation by the Financial Industry Regulatory Authority.”

FINRA scrutiny is never to dismissed or otherwise casually regarded. The agency commands clout, which is manifestly apparent in any spotlighting of its enforcement processes and edicts.

In fact, enforcement activity is what largely defines the prime federal overseer of the financial industry. That is made clear on the agency’s website, which underscores its investigative bent and its “formal disciplinary actions against firms and associated persons.”

Industry pros don’t necessarily need to fear a formal contact from FINRA regarding an alleged security violation or other agency concern. They can certainly benefit from reasonably anticipating agency scrutiny, though, and being ready to respond with dispatch concerning any investigative action.

An experienced and results-driven license-defense legal team can work diligently to secure an optimal outcome in any matter involving a formal licensing matter before a FINRA hearing panel.

A professional license is a hard-earned and invaluable attainment. Timely and proactive steps can be taken to protect it.