What is the Difference Between a SEC Subpoena and a FINRA 8210 Request?

At some point in their careers, many financial professionals will find themselves in the receiving end of a subpoena from Securities and Exchange Commission, “SEC” or a Financial Industry National Regulatory Authority “FINRA” 8210 Request. The receipt of such documents signifies the regulatory or self-regulatory agencies’ request for information and/or documents in relation to an investigation of a potential securities laws violation. While the Securities and Exchange Commission will formally issue a subpoena, FINRA sends parties the equivalent inquiry letter, often referred to as an “8210 Request”. Both entities can request the receipt of a wide range of information and a high number of documents within a short amount of time. Furthermore, recipients who do choose not to respond to these critical requests honestly could ruin their careers and lives. While the SEC subpoena and FINRA 8210 request may share some similarities, there are…

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