Written by The White Law Group• March 21, 2023• 2:46 pm• Blog, Securities Fraud

What is a Broker CRD Number?

Financial Industry Regulatory Authority Central Registration Depository (CRD) Database

FINRA CRD stands for Financial Industry Regulatory Authority Central Registration Depository. It is a database used by the securities industry to track the registration and licensing information of securities firms and brokers through a CRD number.

FINRA, a self-regulatory organization that oversees the securities industry in the United States, maintains the FINRA CRD. The database contains information on the professional backgrounds of brokers, investment advisors, and other securities industry professionals.

Broker-dealer firms and their associated persons are required to register with FINRA and have their information included in the CRD. The information in the CRD includes personal information, education, employment history, disciplinary actions, and regulatory filings.

The purpose of FINRA CRD is to provide investors and regulators with a centralized source of information about the professional backgrounds of securities industry professionals. It allows investors to research the background of brokers and investment advisors before investing their money, and it helps regulators to monitor and enforce compliance with securities laws and regulations.

Knowing your Broker’s CRD Number

FINRA requires all registered individuals and firms in the securities industry to have a CRD number. By knowing your broker’s CRD number, you can ensure that they are properly registered with FINRA and are in compliance with regulatory requirements.

FINRA’s BrokerCheck is a public online database that provides information about brokers and firms registered with FINRA. You can use your broker’s CRD number to look up their background and disciplinary history on BrokerCheck, which can help you make informed decisions about whether to do business with that broker.

FINRA’s CRD system maintains a record of all regulatory and disciplinary actions taken against brokers and firms. Knowing your broker’s CRD number can help you ensure that they have a clean disciplinary record and have not been the subject of any regulatory actions that could put your investments at risk.

Knowing your broker’s CRD number can help you make informed decisions about who you choose to do business with, in the securities industry, and can provide you with valuable information to protect your investments and financial interests.

How to use FINRA BrokerCheck with a CRD number

BrokerCheck is a publicly available online database provided by FINRA that allows investors to research the background of brokers and investment firms registered with FINRA. Here’s how you can use BrokerCheck and the CRD number:

Visit FINRA’s BrokerCheck website: Go to FINRA’s BrokerCheck website and enter the name of the broker or firm you want to research.
Identify the correct broker or firm: BrokerCheck may return multiple results for a given name. Look for the broker or firm that matches the information you have, such as location or CRD number.
Access the broker or firm’s profile: Click on the name of the broker or firm you want to research to access their profile.
Review the broker or firm’s information: The profile will contain information such as the broker or firm’s CRD number, registration status, employment history, and disciplinary history. You can use this information to evaluate the broker or firm’s background and determine whether they are a good fit for your investment needs.
Use the CRD number for additional searches: If you have the broker or firm’s CRD number, you can use it to perform more targeted searches on BrokerCheck. For example, you can use the CRD number to search for regulatory actions or complaints filed against the broker or firm.

By using BrokerCheck and the CRD number, you can access important information about brokers and firms in the securities industry and make informed decisions about who to do business with.

National FINRA Attorneys

FINRA attorneys specialize in the laws and regulations governing the financial industry, particularly those related to securities and investments. A FINRA attorney’s primary responsibility is to represent clients who are involved in legal disputes or regulatory investigations with FINRA or other government agencies such as the SEC (Securities and Exchange Commission).

If you have a securities related dispute, the FINRA attorneys at the White Law Group may be able to help you. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.

For a free consultation with a securities attorney, please call the offices of the White Law Group at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.

For more information on The White Law Group, and its representation of investors, please visit WhiteSecuritiesLaw.com.