On August 20, FINRA warned member firms about a rash of imposter websites, using registered representative’s names, pictures, CRD numbers and other information to gull investors into providing personally-identifying information to fraudsters.
FINRA suggests member firms should contact the FBI and financial regulators, and posting a notification to investors on their legitimate websites. Other response measures include conducting a who-is search, complaining to host ISP or domain-name registrar, among others.
Websites maintained by FINRA member firms and their registered representatives are subject to the requirements of FINRA’s advertising Rule 2210.
FINRA sent a similar warning last year, in an April 29, 2019 Information Notice, here.
FINRA Regulatory Notice 20-30 is here.
Just a week earlier, FINRA warned that it, too, was the subject of an imposter website. Regulatory Notice 20-27 is here.
Thomas K. Potter, III (tpotter@burr.com) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. Tom is licensed in Tennessee, Texas, and Louisiana. He has over 34 years of experience representing financial institutions in litigation, regulatory, and compliance matters. See attorney profile.
PartnerTom Potter is a Partner in the firm's Nashville office and has over 35 years of experience representing business interests in securities and corporate disputes.
Tom represents broker-dealers and investment bankers in disputes ...
