Senators demand FINRA explain disciplinary-data process

12/16/2013 | InvestmentNews (free registration)

Sens. Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, are pressing the Financial Industry Regulatory Authority to detail a procedure that lets financial professionals wipe out records of disciplinary action. The senators say FINRA should respond to critics who say BrokerCheck reports with deleted information might misguide investors.

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