Brokers who have unreported bankruptcies have worse disciplinary records than the industry norm. -Wall Street Journal Study

All brokers must be licensed and registered by the Financial Industry Regulatory Authority (FINRA), and the Central Registration Depository (CRD). The CRD is the securities industry online registration and licensing database that obtains information from brokers, brokerage firms, and regulators as they complete their securities industry registration and licensing process.

The employers of securities brokers are required to report information such as bankruptcy filings, criminal records, and other red flags to FINRA. Failure to disclose this information can result in substantial fines.

Although many employers have a policy which tells brokers to disclose these types of personal situations, if the employee simply does not follow your policy, it is often the company who is left dealing with the fines and tarnished reputation.

In 2014, the FINRA Background Check rules expanded to also require employers to now verify the accuracy and completeness of the U4.

Initial Verification
Background Decision is a national leader in background screening. We build customized solutions that appropriately vet your hires. This process can easily include verification of the U4 information.
Ongoing Broker Monitoring
We offer scale-able solutions to monitor your existing brokers for new criminal records and/or credit changes like bankruptcy filings.
Customized Solutions
Our technology platform can be easily customized to have the broker pay for the screening, verification, and/or ongoing monitoring process.