Effective February 25, 2013, FINRA will modify its rule that covers its ability to request information and inspect books and records. The rule will:
-specify that FINRA may inspect and copy information that is in a person’s “possession, custody, or control” if the person is subject to FINRA’s jurisdiction
-identify that books and records are subject the rule if they relate to a broker-dealer’s business or to a person’s association with a member
-describe how FINRA will contact unregistered associated persons at either a business or home address
-permit FINRA to provide an inspection request to a person’s attorney, assuming the person is being represented by the attorney in responding to the request
This alert applies to the Series 6, Series 7, Series 24, Series 26, Series 62, Series 79, and Series 82.