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FINRA Background Check & Verification Services

Affordable Compliance Solutions for the Financial Services Industry

FINRA Background Checks

Beginning July 1, 2015, FINRA’s new background check requirements for registration applicants went into effect. Among the new guidelines, registered firms now have to include, at minimum, a national public record search to complete the verification of information provided on Form U4 applications. FINRAidentifies these public records to include, but not be limited to, general information related to name and address, criminal filings, bankruptcy petitions, civil actions, judgment and lien records, and business filings. However, FINRA encourages firms to go beyond these minimum guidelines and perform more in-depth checks based on an applicant’s expected position, job function, and responsibilities.

To comply with its background check regulation, FINRA requires registered firms to investigate the good character, business reputation, qualifications, and experience of an applicant prior to submitting a Form U4 for registration. The verification of the information contained in the Form U4, including the public record search, must then be completed within 30 days after its submission to FINRA. Firms will have to develop and adopt written procedures designed to satisfy the verification process within the required time.

How We Can Help

As a professional investigative agency with extensive experience serving the financial industry, Whelan & Whelan is uniquely qualified to assist registered firms in fulfilling FINRA’s background check requirements. We pride ourselves on offering flexible and budget-friendly research options and, with that in mind, we have developed various FINRA background check packages to meet your information needs and help you comply the agency’s requirements.

Each of our FCRA compliant FINRA Background Check packages have been designed to meet and exceed FINRA’s public record search and overall Form U4 verification guidelines. We do not rely on the information contained in consumer credit reports, which may not provide accurate or complete data, but rather focus on an independent review of available criminal records, civil filings, and other public record documents. Any records we may uncover during our research are directly verified at the source to ensure accuracy and completeness, so you will never be left wondering about the specific details of a public record filing.

What We Offer

You can choose from any of the in-depth research options below or we can customize a detailed investigative plan to satisfy your specific information needs and resource budget.

FINRA Background Check Bronze Package

This package is focused solely on satisfying the national public record requirement of FINRA’s Form U4 verification rule. While all information returned is verified at the source, firms selecting this option will need to perform additional research in-house to satisfy the overall requirements. The Bronze Package includes the following nationwide state and federal record searches:

  • Nationwide State Criminal Records
  • Nationwide State Civil Records
  • Nationwide Judgment & Lien Filings
  • Federal Criminal Court Records
  • Federal Civil Court Records
  • Bankruptcy Petitions

FINRA Background Check Silver Package

This package is focused on satisfying the public record check requirement of FINRA’s verification rule and provides additional research to assist with the overall Form U4 verification process. The Silver Package includes the following research:

  • Nationwide State Criminal Records
  • Nationwide State Civil Records
  • Nationwide Judgment & Lien Filings
  • Federal Criminal Court Records
  • Federal Civil Court Records
  • Bankruptcy Petitions
  • Name & Address Verification
  • Residential Address History
  • Business Records Search

FINRA Background Check Gold Package

This package is focused on performing a local and nationwide search of available public records and includes all inquiries from the Silver Package plus:

  • County Criminal Court Filings
  • County Fictitious Business Name/DBA Filings
  • State Driver History Report
FINRA Background Check Platinum Package

This package includes a comprehensive review of public record filings and contains all inquiries from the Silver and Gold Packages plus:

  • Statewide Criminal Records*
  • State Tax Warrant/Lien Notices
  • Federal Contractor Exclusion Search
  • Secretary of State Business Records Search

*Where Available

  • Regulatory Checks (SEC & CFTC)
  • FINRA BrokerCheck Report
  • SEC Investment Adviser Search
  • State & National Sex Offender Registry Listings

Depending on the FINRA Background Check package you choose, results will be returned to you within 24 to 72 hours. All levels of research include a detailed report outlining the checks performed and the corresponding findings, and any potentially negative public records discovered will contain a full verified description of the record and its current status. We will never provide you with a report that includes information which has not been independently confirmed to be associated with the applicant. Guaranteed.

Key Features

  • FINRA & FCRA Compliant Checks
  • Public Records Verified at the Source
  • Detailed Investigative Reports
  • Accurate & Reliable Information
  • Prompt Results Within 24 to 72 Hours
  • Flexible & Customizable Research Options

Order A Sample Report

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Do I Need a Signed Release to Run FINRA Background Checks?

Find the answer to this and other questions in our FAQ’s.

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Need Help With Your Written Procedures?

Whelan & Whelan can also assist with the development of effective written procedures for complying with FINRA’s Form U4 verification requirement.

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