If a register representative is fined by FINRA, is the requirement to notify my home state Insurance Regulators?

Each month FINRA notifies Insurance Regulators about their actions against register representatives whether they hold an insurance license or not.  Insurance producers are required to notify the Insurance Regulators of any violations within 30 days.   At the time of a license application or license renewal, producers are required to list all violations by any regularity agency and attach documentation.  Answering no to the question about violations when it should have been yes will automatically disqualify the producer for an insurance license.  The reason is the person is dishonest.  Individual denied a license can ask for a hearing.

October 1, 2019

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