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Avoiding Securities Fraud: What a CRD Number Tells You

Matthew R. Wilson

As a securities fraud attorney, I constantly encourage clients, friends, and family members to always put in a little research before agreeing to an investment opportunity. If you want to check up on your broker before you decide to invest, one of the first pieces of information you should obtain is your broker’s CRD number. The CRD number allows you to access a lot of information about your broker’s background, which you can then use to decide if a broker or investment opportunity looks legitimate. You can access this information through FINRA’s BrokerCheck service.

What Information Can I Obtain with a Broker’s CRD Number?
BrokerCheck allows you to access information about individual brokers and brokerage firms. When you look up an individual broker’s number, you find details about:

  • The broker’s history and credentials.
  • Complaint and disciplinary history.
  • Employment history over the last ten years.
  • Registration, licensing, and even industry exam results.

Although we often stress looking up your individual broker, it can also be helpful to look up information about the brokerage firm itself. Using a firm’s number, you can access information about the business in general and:

  • Licensing and registration.
  • Who owns the firm.
  • Any history of changes in name and/or ownership.
  • Disciplinary actions and securities arbitration awards against the firm.

If you have already suffered losses due to broker misconduct, speak with an experienced securities fraud attorney today. We also encourage you to request your free copy of our helpful book Five Signs of Investment Fraud …And What to Do if it’s Happened to You.