When a customer accuses a broker or financial advisor of violating securities laws, the Financial Industry Regulatory Authority (FINRA) will step in to launch and oversee an investigation into these claims. One of the first steps of this process is when FINRA sends a Rule 8210 request to the individual accused of violating securities laws. Receiving a Rule 8210 request can be stressful, and it’s natural to wonder how this investigation will impact your career and professional reputation. Below is a brief overview of how to handle a Rule 8210 request with greater ease and confidence.
What a FINRA Rule 8210 Request Entails
A FINRA Rule 8210 Request asks the recipient to provide a written statement, details, information, and documents relating to the incident or violation in question. The rule includes a requirement to comply with the request, stating, “No member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.” Failing to respond to a Rule 8210 request may result in disciplinary action.
When and How to Respond to a FINRA Rule 8210 Request
As soon as you receive a FINRA Rule 8210 request, reach out to an experienced securities law attorney to assess your situation and determine the most strategic response. Responding promptly is always in your best interest, but you will want to be strategic about the content of your response. Those who over-explain or provide information that is outside the scope of the investigation may hinder your position in the long run. Enlist the guidance of your attorney to help you craft an appropriate and strong response.
You Are Never Alone During This Stressful Process
FINRA’s rules are often full of technical, nuanced language and are difficult to understand. Going through a FINRA investigation can be overwhelming, especially as your professional future becomes less certain. However, it’s essential that you understand you do not have to go through this process on your own. Get in touch with a trusted securities law attorney to determine the most appropriate and strategic path forward. Whether you receive a no-action letter from FINRA clearing you of wrongdoing or the matter proceeds to an on-the-record testimony (OTR), your attorney will be there to answer your questions, address your concerns, and guide you through every step of the process.
If you are facing a FINRA investigation, call Judex Law, LLC, today at (303) 523-4022 to speak with a knowledgeable and friendly securities law attorney.
