Who needs to register with FINRA?
You must be registered with FINRA if you're engaged in the securities business of your firm, which includes salespersons, branch managers, department supervisors, partners, officers and directors. You are required to pass qualification exams to demonstrate competence in your particular securities activities.
How do you know if a broker is legit?
You can find out if brokers are licensed in your state, if they've had run-ins with regulators or received serious complaints from investors. Go to finra.org/investors and click on "FINRA BrokerCheck." Or call 1-800-289-9999.
What is the difference between SEC and FINRA?
FINRA is a not-for-profit entity that is not part of the government. The Securities and Exchange Commission (SEC) is a government organization that is meant to protect investors and ensure the integrity of the securities market. The SEC oversees FINRA and acts as the first level of appeal for actions brought by FINRA.
How do I check if someone is registered with FINRA?
Visit FINRA BrokerCheck or call FINRA at (800) 289-9999.
...
If you don't find the person in FINRA BrokerCheck (your search comes back as “No Search Results”), it can mean:
- is not the subject of a final regulatory action;
- has not been convicted of or pled guilty or no contest to certain crimes;