InvestorsHub Logo
Followers 8
Posts 291
Boards Moderated 0
Alias Born 10/16/2015

Re: Cappello post# 17630

Sunday, 06/30/2019 12:56:14 PM

Sunday, June 30, 2019 12:56:14 PM

Post# of 33157
For Your Information, FINRA does a credit check and verify the information that the applicant put on their U4 form and nothing else and even that is done by a third party vendor who is the cheapest provider because they have to pay that third-party provider for every search.

So, you can see FINRA is just trying to cover their butt to check the box, they don't provide a comprehensive background Check.

Also, FINRA is not set up even if they wanted to provide this type of background checks.

Even all the background searches are from a third party contract, not FINRA.

It's too expensive to provide detailed credit and criminal background searches.

So, a FINRA background check is worth less than my toilet paper for all intents and purposes and none of these background checks show anything about cases settled out of court that Matthew P Dwyer settles and paid off people because he was found guilty and agree to a monetary fine and penalty. If they reported that, then you would have a list to print in excess of many reams of paper.

It's possible that Kredit Karma shows more information that FINRAs Background checks but that only free to consumers.

Relying on a FINRA background check as your proof and smoking gun that Mattew P Dwyer is clean and not a criminal is more dangerous than getting a stock pick from Mini or Mikey Mouse.