FINRA Alert on Designations

On Oct. 11, FINRA warned investors about professional designations.

  • Professional designations might imply special training. Others can be fraudulent.
  • The agency is providing investors advice on understanding licenses, designations.
  • And is giving them online tools to do background checks on brokers and advisors.
  • Goal is to help investor appreciate the credentialing and licensing requirements.
  • Professional Designations Tool
  • Notes that varying standards to get designations; some are more rigorous to earn.
  • FINRA has tool to find out what it takes to earn and maintain financial designation.
  • Professional designation tool explains them, when to be wary of those touting them.
  • The designation should never be sole reason you select an investment professional.

Regulators FINRA
Entity Types B/D; IA
Reference Inv Al, PR 10/11/2017
Functions Advertising; Complaints; Compliance; Operations; Registration; Training; HR
Countries United States of America
Products Corporate; Fund Mgt; Securities; Seniors
Regions Am
Rule Type Guidance
Rule Date 10/11/2017
Effective Date 10/11/2017
Rule Id 35450
Linked to N/A
Report Issue 10/15/2017
Report Section US Investment

Last substantive update on 10/11/2017