On April 6, the comment period on FINRA’s proposed changes to its BrokerCheck system will close. Changes FINRA is exploring with regard to its database on registered representatives and dually registered RIAs include adding more in-depth background information (such as test scores for various license exams).

The regulator has also asked for input on whether information should be shared with third-party companies. While there are many reasons registered representatives and the investing public alike may benefit from increased use of BrokerCheck — educated consumers can have confidence in the integrity of the market — there is still much debate and controversy about the proposed changes.

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