Information and Testimony Requests (Rule 8210)

FINRA Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books) is a crucial tool FINRA relies on to protect investors and the market that requires firms and individuals under FINRA’s jurisdiction to provide information when requested. Rule 8210 grants FINRA staff and adjudicators the authority to compel member firms, associated persons and other persons over whom FINRA has jurisdiction to provide information, documents and sworn testimony relating to investigations, complaints, examinations or proceedings. FINRA does not have subpoena power, so this rule serves as a vital tool in FINRA’s investigative process. 

Under FINRA Rule 8210, FINRA can request records and information relating to compliance with FINRA and MSRB rules and federal securities laws. These requests can be made to member firms and associated persons regardless of where the firm, individual or records are located. FINRA can also serve requests on a member firm’s attorney. 

Compliance with Rule 8210 is essential for FINRA to fulfill its self-regulatory mission. Due to the importance of Rule 8210, FINRA may seek sanctions up to and including an expulsion from membership for firms or a bar for associated persons if they fail to respond, or do not respond truthfully or completely, to a request made pursuant to Rule 8210.