Without question, whenever a broker is facing a regulatory enforcement action that could lead to a bar or suspension, they have a lot of questions. What is a bar? What is a suspension? How does it work, and what does it mean, exactly? These are very good questions, and brokers should certainly understand that ramifications of any settlement to which they might enter, or the possible results of a litigated disciplinary proceeding. And, in addition to understanding the end result of the FINRA action, the broker should understand how it might affect their employment/registration status with their current firm, with future potential firms, with state regulators, and with clients and prospective clients. You see, there's more than meets the eye with a suspension or bar. So, we believe that wise brokers will be seeking the advice of experienced regulatory counsel to help them make the best decisions possible - and to obtain the most favorable outcome possible - when their careers may be on the line.
In this short video blog filmed at the old Lawrenceville city jail (pictured above) that is attached to the rear of our office building (which was formerly the city hall), I'll provide a basic overview of bars and suspensions in FINRA enforcement cases. Check out our other videos on sanctions here on the blog and our youtube channel, and the ones to come.