What BrokerCheck Shows
BrokerCheck provides information on registered broker-dealers including: registration and licensing status; employment history at FINRA-member firms; any regulatory events (FINRA actions, SEC actions, civil judgments, customer arbitration awards); and criminal disclosures. For Citadel Securities (CRD# 116797), the BrokerCheck file shows its regulatory event history.
How to Access BrokerCheck
BrokerCheck is available at brokercheck.finra.org. Search by firm name or CRD number. For Citadel Securities, search for 'Citadel Securities LLC' or enter CRD# 116797. The database is free and requires no registration. Full reports can be downloaded as PDFs.
Interpreting Regulatory Events
Not all regulatory events in BrokerCheck represent the same level of severity. Some are minor reporting issues; others reflect significant findings. Each entry includes details about the allegations, findings, and resolution. Reading the underlying FINRA Letter of Acceptance, Waiver and Consent (AWC) or SEC Order provides full context.
Using BrokerCheck for Due Diligence
Before opening an account with a broker-dealer, reviewing its BrokerCheck report is a basic due diligence step. Significant regulatory events, especially patterns across multiple years, are relevant to assessing whether a firm has adequate compliance culture. The Ethics Reporter considers BrokerCheck an essential research tool for accountability journalism.