- Key Takeaways From SEC 2026 Examination Priorities
- FINRA Awards Expungement Of Misleading Termination For Florida FA
- FINRA Arbitration Panel Awards Expungement Of False Unsuitability Claim
- Have You Completed Your Annual SEC Review (Rule 206(4)-7)?
- Is your Form ADV Part 2 still compliant with the fiduciary duty?
One of the final stages of a FINRA investigation is an on-the-record interview, or “OTR.” An OTR is similar to a deposition or interrogation that focuses on an investment-related or regulation-related violation.
In this week’s Ask An AdvisorLaw Expert, we’re talking with our Ben Winograd, J.D., about what advisors can expect at this stage of FINRA’s probe, as well as how to avoid potential barring from the industry altogether.
If you’re under investigation and are in need of representation, our team of attorneys at AdvisorLaw can provide expert counsel. Contact us today for a complimentary consultation.
Transcript:
On the record interview is Finra’s version of a sworn recorded deposition. It’s conducted in person, it’s an all-day affair, and it involves several investigators interrogating. Chances are, if you’re at the OTR stage, that it’s not a good sign because Finra believes that you may have violated an investment-related statute or regulation. Which is why preparation is super important. Having counsel work with you through mock questioning, giving you feedback, and finding the best way to articulate your narrative, painting you in the best light while still being truthful. Having the OTR go off without a hitch can help minimize the sanctions which are to follow and help keep you from being barred from the industry.