Struggling to obtain validated lien, judgment, and bankruptcy records?
The Liens, Judgments, Bankruptcies + Credit solution (LJB+C) provides data to enable risk assessment and compliance with FINRA.
Sterling fills the gap by providing a report with the following:
- Credit Report
With the implementation of National Consumer Assistance Plan (NCAP)-enhanced standards for public records, all civil judgments and most tax liens were removed from credit reports. Financial institutions struggle to obtain compliant information for risk assessment and reporting to FINRA.
Liens, Judgments, Bankruptcies + Credit empowers financial institutions to:
Screen Candidates and Employees
Leverage LJB+C to assess risk associated with new hires and existing employees, and determine whether there is need to disqualify them from performing securities-related functions or establish supervisory controls for safety and security.
Proactively Manage Screening Information Required by FINRA
Proactively manage reporting of liens, judgments, and bankruptcies required by FINRA, rather than defensively responding to inquiries from regulators, resulting in pressure and potential disciplinary actions and fines.
Liens, Judgments, Bankruptcies + Credit Highlights
- Complement registered representatives' self-reporting of liens, judgments, and bankruptcies with validations at the public record source
- Meet screening and reporting requirements proactively, avoiding audit findings and negative attention from regulators
- Validate Form U4 disclosures and report to the Central Registration Depository (CRD) under FINRA Rule 3110
- Amend Form U4 with validated liens, judgments, and bankruptcies within 30 days of a registered representative being subject to an unsatisfied lien or judgment
Get started with Liens, Judgments, Bankruptcies + Credit
Learn how you can proactively manage information to make more informed decisions, protect your customers, and mitigate financial and reputational risk.