A recent 2-1 decision by the Financial Industry Regulatory Authority Office of Hearing Officers stretched Rule 8210 beyond its wording and intent, barring a registered representative in the process.<\/p>\n
The case, Department of Enforcement v. Wilfredo Felix<\/em>, et al., involved several issues, including Felix\u2019s failure to produce his Wage and Income Transcript (IRS transcript), which he could have obtained by submitting an IRS Form.<\/p>\n An IRS transcript is an IRS-created document that shows \u201cmost line items\u201d from tax returns, including adjusted gross income. During the investigation, FINRA staff asked Felix to produce his IRS transcripts (a very rare request), which he did not have in his possession, or to sign an IRS Form instructing the IRS to send them to him.<\/p>\n He refused, stating that FINRA\u2019s request went beyond the scope of Rule 8210.<\/p>\n Read More Here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" A recent 2-1 decision by the Financial Industry Regulatory Authority Office of Hearing Officers stretched Rule 8210 beyond its wording and intent, barring a registered representative in the process. The case, Department of Enforcement v. Wilfredo Felix, et al., involved several issues, including Felix\u2019s failure to produce his Wage and Income Transcript (IRS transcript), which … Continue reading FINRA Panel Stretched Rule 8210 Too Far<\/span>