February 18, 2013
I strongly support FINRA's proposed revision to Rule 2267 (Investor Education and Protection), requiring members to include a prominent description of and link to FINRA BrokerCheck on their websites, social media pages and any comparable Internet presence and on websites, social media pages and any comparable Internet presence relating to a members investment banking or securities business maintained by or on behalf of any person associated with a member.
I have represented numerous investors in their arbitration disputes with broker-dealer firms and/or their registered representatives and, astonishingly, not a single client was aware of the existence of BrokerCheck. I believe this is a great step in advancement of investor education and protection. Investors should be aware of their ability to be able to check the backgrounds of broker-dealer firms and registered representatives with whom they are, or are contemplating, doing business with.
I further suggest that FINRA consider revising the Rule further to require that members include an insert in the monthly statements, or print a reminder on the monthly statements, reminding investors of the availability of BrokerCheck.
Thank you for the opportunity to comment.
Lisa A. Catalano, Esq.