Resources for background on your broker

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Sunday, November 15, 2009

FINRA's BrokerCheck

http://Finra.org/brokercheck

BrokerCheck is a searchable online database featuring background information on 850,000 brokers and 17,000 brokerage firms currently or formerly registered with FINRA, the brokerage industry's self regulator. Records come from the Central Registration Depository, the online registration and licensing database for the securities industry, and include information about previous employment, disciplinary action and customer complaints. BrokerCheck had been used 13.5 million times through October of this year, compared with 6.7 million times in all of 2007. For questions about BrokerCheck, call 800-289-9999.

Investment Adviser Public Disclosure

http://www.adviserinfo.sec.gov

Investors can use the IAPD site to find background information on investment adviser firms regulated by the SEC or the states. Copies of a firm's registration form -- Form ADV -- are available at the site. Information about regulatory action or client disputes is on the ADV form, as well as the firm's investment strategies, services and fees.

North American Securities Administrators Association

http://www.nasaa.org

Contact information for each state's securities regulator is available at NASAA's site. State regulators can provide investors with a broker's CRD file, which includes information about disciplinary actions, customer complaints, employment history and more. Reach Maryland's securities division at 410-576-6360 or http://www.oag.state.md.us/Securities/. Find Virginia's Division of Securities and Retail Franchising at 804-371-9051 or http://www.scc.virginia.gov/srf/.