Financial Checks
Protecting organizations by screening applicants at every level.
Regulatory Compliance is Key
Background checks for those in the financial services industry are overseen by several governmental agencies, each of whom have their own rules and regulations for both employers and employees.
Types of Financial Searches
Federal Reserve Board Sanction List
The Federal Reserve takes formal enforcement actions against entities including state member banks, bank holding companies, and officers, directors, employees and certain other categories of individuals associated with these entities for violations of laws, rules, or regulations, unsafe or unsound practices, breaches of fiduciary duty, and violations of final orders.
FFIEC (Federal Financial Institutions Examination Council)
A search of the FFIEC database. Contains Board of Governors of FRB; Federal Deposit Insurance Corp. FDIC; National Credit Union (NCUA); Office Comptroller of the Currency (OCC) and Office of Thrift Supervision (OTS).
FINRA (Financial Industry Regulatory Authority)
Created in 2007 through the consolidation of NASD and NYSE Member Regulation, FINRA is the largest non- governmental regulator for all securities firms doing business with the U.S. public and has background information on current and former FINRA-registered brokers and current and former FINRA-registered brokerage firms.
Summary information may include date of last update, disclosure details, status, qualifications, registration, and employment history of individual brokers.
FIRREA (Financial Institutions Reform, Recovery and Enforcement Act of 1989)
This act dramatically changed the savings and loan industry and its federal regulation, including deposit insurance. Includes the following searches that help banks comply with this regulation:
- FDIC Enforcement Actions, Federal Reserve Enforcement Actions;
- FINRA Barred Individuals
- FINRA Disciplinary Actions
- NCUA Administrative Orders
- OCC Bank Enforcement Actions (also listed as Office of the Comptroller of the Currency – Bank Enforcement Actions)
- OCC-OTS Enforcement Actions
- OCC Institution Affiliated Parties Enforcement Actions
- OTS Enforcement Actions
This search does not include Civil Searches.
SEC Filings
A search of the Security & Exchange Commission’s public disclosure database to identify actions relating to securities and investment industry companies/professionals, public companies and principals. Provides information on investment advisor firms, including registration status, effective date, IARD/CRD number, business activities, and disclosures including regulatory and criminal activity. The SEC requires public companies to disclose meaningful financial and other information to the public. Companies, foreign and domestic, are required to file registration statements, periodic reports, and other forms that will be revealed in the search.
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