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Complying with the new BrokerCheck Link Requirements

Saturday, March 26, 2016

Beginning June 6, 2016, FINRA Rule 2210 will require firms to have a readily apparent reference and hyperlink to BrokerCheck. This reference will need to be made on the initial Web page that is intended for viewing by retail investors, and any other Web page that has a professional profile of one or more registered individuals, who conduct business with retail investors.

A summary of the requirements can be found in Regulatory Notice 15-50.

To satisfy the requirements, a firm can add a direct link to BrokerCheck at http://brokercheck.finra.org/.

It is recommended, though not required, that the following text descriptions be used:

While not required, we recommend that firms create links to their specific Firm and Registered Person’s. This can be done with the firm or individuals CRD number. For example:

  • For a direct link to firm with CRD number 12345, the URL would be: http://brokercheck.finra.org/firm/12345.
  • For a registered representative whose CRD number is 12345, the URL would be: http://brokercheck.finra.org/individual/12345.

FINRA is also offering custom BrokerCheck images, direct link tools and video demonstrations which can be found here.

We encourage you to start making these changes before the rule becomes effective on June 6th. Should you have any questions, we will be glad to help.

About Red Oak Compliance Solutions

Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.