Joe Peiffer Regarding Shortfalls of BrokerCheck

Joe Peiffer Regarding Shortfalls of BrokerCheck

Joe Peiffer was recently quoted in On Wall Street about shortfalls in FINRA’s BrokerCheck service.  BrokerCheck does not disclose complete information about brokers.

Joe, as president of the Public Investors Arbitration Bar Association (PIABA), drafted a letter to the SEC, along with Public Citizen and the Securities Arbitration Clinic at St. John’s University School of Law, to urge the SEC to create a simple and accurate site for consumers that contains full disclosure of all publicly available information about brokers and investment advisers.

The article quoted Joe as follows: ““FINRA’s BrokerCheck is lacking in internal investigations,” says Joseph Peiffer, president of PIABA. “They are lacking reasons for internal terminations, and things fall off people’s CRDs regarding bankruptcies. There are number of things that are missing from FINRA’s database.”

You can find the article here.

Call Us Now