View Whole SectionText only Print Print Manager Link
Previous Next
  Versions
(3 versions)
 

8313. Release of Disciplinary Complaints, Decisions and Other Information

(a) General Standards
(1) FINRA shall release to the public a copy of, and at FINRA's discretion information with respect to, any disciplinary complaint or disciplinary decision issued by FINRA, as defined in paragraph (e) of this Rule. FINRA shall, in response to a request, release to the requesting party a copy of any identified disciplinary complaint or disciplinary decision issued by FINRA, as defined in paragraph (e) of this Rule.
(2) FINRA shall release to the public a copy of, and at FINRA's discretion information with respect to, any statutory disqualification decision, notification, or notice issued by FINRA pursuant to the Rule 9520 Series that will be filed with the SEC and any temporary cease and desist order or decision issued by FINRA pursuant to the Rule 9800 Series.
(3) FINRA shall release to the public information with respect to any suspension, cancellation, expulsion, or bar that constitutes final FINRA action imposed pursuant to Rules 9552, 9553, 9554, 9555, 9556, and 9558, and information with respect to any suspension imposed pursuant to Rule 9557. FINRA shall release to the public a copy of, and information with respect to, any decision issued pursuant to Rule 9559 that constitutes final FINRA action. FINRA shall release to the public information with respect to the summary suspension or expulsion of a member or the summary revocation of the registration of a person associated with a member for a failure to pay fines, other monetary sanctions, or costs pursuant to Rule 8320.
(4) FINRA shall release to the public a copy of, and at FINRA's discretion information with respect to, any decision issued by FINRA pursuant to NASD Rule 1015 and NASD Rule 1016. Copies of, and information with respect to, such decisions shall be released to the public in redacted form; provided, however, in its discretion, the National Adjudicatory Council or the FINRA Board may determine to release such decisions and information in unredacted form.
(5) FINRA may release to the public a copy of, and information with respect to, any decision or notice issued pursuant to Rule 6490, the Rule 9600 Series, the Rule 9700 Series, and any other decision appealable to the SEC under Exchange Act Section 19(d).
(6) FINRA may release to the public a copy of, and information with respect to, any complaint, decision, order, notification, or notice issued under FINRA rules, where the release of such information is deemed by FINRA's Chief Executive Officer (or such other senior officer as the Chief Executive Officer may designate) to be in the public interest, in such format as he or she finds appropriate.
(b) Release Specifications
(1) Copies of, and information with respect to, any disciplinary complaint released to the public pursuant to paragraph (a) of this Rule shall indicate that a disciplinary complaint represents the initiation of a formal proceeding by FINRA in which findings as to the allegations in the complaint have not been made and does not represent a decision as to any of the allegations contained in the complaint.
(2) Copies of, and information with respect to, any disciplinary decision or other decision, order, notification, or notice released to the public pursuant to paragraph (a) of this Rule prior to the expiration of the time period provided for an appeal or call for review as permitted under FINRA rules or the Exchange Act, or while such an appeal or call for review is pending, shall indicate that the findings and sanctions imposed therein are subject to review and modification by FINRA or the SEC.
(c) Discretion to Redact Certain Information or Waive Publication
(1) Notwithstanding paragraph (a) of this Rule, FINRA reserves the right to redact, on a case-by-case basis, information that contains confidential customer information, including customer identities, or information that raises significant identity theft, personal safety, or privacy concerns that are not outweighed by investor protection concerns.
(2) Notwithstanding paragraph (a) of this Rule, FINRA may determine, in its discretion, to waive the requirement to release a copy of, or information with respect to, any disciplinary complaint, disciplinary decision or other decision, order, notification, or notice under those extraordinary circumstances where the release of such information would violate fundamental notions of fairness or work an injustice.
(d) Notice of Appeals of FINRA Decisions to the SEC
FINRA shall provide notice to the public if a disciplinary decision of FINRA is appealed to the SEC and the notice shall state whether the effectiveness of the decision has been stayed pending the outcome of proceedings before the SEC.
(e) Definitions
(1) For the purpose of this Rule, the term “disciplinary complaint” shall mean any complaint issued pursuant to the Rule 9200 Series.
(2) For the purpose of this Rule, the term “disciplinary decision” shall mean any decision issued pursuant to the Rule 9000 Series, including, decisions issued by the Office of Hearing Officers, the National Adjudicatory Council or the FINRA Board, orders accepting offers of settlement, and Letters of Acceptance, Waiver and Consent; provided, however, such term does not include decisions issued pursuant to the Rule 9550 Series, Rule 9600 Series, Rule 9700 Series, or Rule 9800 Series, or decisions, notifications, or notices issued pursuant to the Rule 9520 Series, which are addressed by paragraphs (a)(2), (a)(3) and (a)(5) of this Rule. Minor rule violation plan letters issued pursuant to Rules 9216 and 9217 are not subject to this Rule.
Amended by SR-FINRA-2013-018 eff. Dec. 16, 2013.
Amended by SR-FINRA-2010-060 eff. Dec. 15, 2010.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-2003-168 eff. March 19, 2007.
Amended by SR-NASD-2005-064 eff. Jan. 12, 2006.
Amended by SR-NASD-2003-110 eff. June 28, 2004.
Amended by SR-NASD-98-80 eff. June 23, 2003.
Amended by SR-NASD-2002-103 eff. July 31, 2002.
Amended by SR-NASD-99-76 eff. Sept. 11, 2000.
Amended by SR-NASD-2000-05 eff. July 10, 2000.
Amended by SR-NASD-98-57 eff. March 26, 1999.
Amended by SR-NASD-97-81 eff. Jan. 16, 1998.
Amended by SR-NASD-97-11 eff. June 12, 1997.
Amended by SR-NASD-96-32 eff. Oct 10, 1996.
Amended by SR-NASD-94-59 eff. Dec. 22, 1994.
Amended eff. May 4, 1988; Sept. 19, 1989; July 1, 1991; Apr. 30, 1992; July 1, 1993.

Selected Notices: 99-16, 00-36, 00-56, 03-35, 07-10, 08-57, 13-27.

Previous Next