FINRA Discipline: FINRA Rule 9212- Complaint Issuance

Posted on December 2nd, 2016 at 12:34 PM
FINRA Discipline: FINRA Rule 9212- Complaint Issuance

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the second of a series of posts to discuss the rules associated with the FINRA disciplinary process. FINRA Rule 9212 provides a guideline for the appropriate form, content, notice, docketing, and service for any complaint issued by the Department of Enforcement or the Department of Market Regulation.

FINRA states the complaint shall specify in reasonable detail the conduct alleged to constitute the violation and the rule, regulation, or statutory provision a respondent is alleged to be violating or to have violated.

FINRA Rule 9212 also states that the Department of Enforcement or the Department of Market Regulation is allowed to file and serve an amended complaint before a respondent answers.  

Moreover, a complaint can be withdrawn at any time before the issuance of a ruling on a motion for summary disposition, or the start of the hearing on the merits without prejudice. That means that the complaint can be re-filed based on the allegations concerning the same facts and circumstances that are set forth in the withdrawn complaint. If the Department of Enforcement or the Department of Market Regulation requests to withdraw a complaint after the occurrence of either of those two events, the hearing panel will determine whether the withdrawal shall be granted with prejudice. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker servicesemployment mattersstrategic consulting and counselingbroker litigation and arbitration,whistleblower actions, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.   

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston, FINRA, FINRA Rule 9212, complaint issuance, Department of Enforcement, Department of Market Regulation,

Return to Archive

TESTIMONIALS

Previous
Next

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

January 21, 2022
CFP Board Establishes New Appeals Commission

The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses the sole authority to adjudicate appeal hearings.

January 20, 2022
Edward Jones Fails To Convince Supreme Court To Review Federal Preemption of Account Fee Suit

Edward Jones & Co. failed to convince the U.S. Supreme Court to analyze how a federal securities law impacts a client dispute pertaining to fee-based accounts.

January 19, 2022
SEC Charges Texas Entities Over Oil and Gas Fraud

The Securities and Exchange Commission (SEC) has charged The Heartland Group Ventures, Heartland Production and Recovery, six other Heartland-affiliated entities, four Heartland-affiliated individuals as well as several oil and gas operators.