The Central Registration Depository (CRD) is a system used by the Financial Industry Regulatory Authority (FINRA) to collect and maintain registration and disciplinary information on individuals and firms involved in the securities industry. The CRD serves as a centralized database that allows regulators, investors, and other interested parties to access information about registered individuals and firms, including their employment history, qualifications, and any disciplinary actions taken against them. The CRD plays a crucial role in promoting transparency and accountability in the securities industry by providing a comprehensive and up-to-date record of registered individuals and firms.
The Central Registration Depository (CRD) is a centralized electronic system used by the Financial Industry Regulatory Authority (FINRA) to collect and maintain registration and disciplinary information on individuals and firms involved in the securities industry.
Individuals and firms engaged in securities-related activities, such as brokers, investment advisers, and securities dealers, are required to register with the CRD.
To register with the CRD, individuals and firms must complete the appropriate registration forms, provide required documentation, and pay the necessary fees. The registration process is typically facilitated through a sponsoring firm or self-regulatory organisation (SRO).
The CRD contains a wide range of information, including personal and professional background information, employment history, disciplinary actions, customer complaints, and regulatory disclosures related to individuals and firms in the securities industry.
Yes, individuals can request access to their own CRD record by submitting a written request to FINRA. However, certain information, such as confidential customer information, may be redacted or withheld.
Yes, employers and other authorized parties, such as regulators and self-regulatory organisations, can access an individual’s CRD record to review their registration and disciplinary history.
Most information in the CRD is retained indefinitely, including registration and disciplinary history. However, certain information, such as employment history, may be removed after a specified period of time.
Yes, information from the CRD can be used as evidence in legal proceedings, such as arbitration cases or regulatory enforcement actions. It is important to consult with legal counsel to understand the specific rules and procedures for using CRD information in a particular context.
Negative information in the CRD, such as disciplinary actions or customer complaints, can have significant consequences for individuals and firms in the securities industry. It may impact their ability to obtain or maintain registration, affect their professional reputation, and potentially lead to regulatory sanctions or legal liabilities.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 4th April 2024.
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