Legal Question in Banking Law in North Carolina

Employee Privacy

I work for a broker/dealer in NC as a financial analyst. I am not a registered representative and am not bound by many of the regulations imposed upon them by FINRA. However, the compliance officer is trying to get me to agree to letting them run a investigative consumer report on me, which contains very personal and detailed information I would rather not share. Do I have to comply?


Asked on 12/11/08, 2:43 pm

2 Answers from Attorneys
David Anderson Anderson Business Law LLC

Re: Employee Privacy

You could ask them to direct you to the contract provision or federal statute which requires that you disclose the info.If they can't do that,the issue should be closed.

Read more
Answered on 12/11/08, 3:36 pm
Warren Markowitz Warren R. Markowitz, Esq

Re: Employee Privacy

If you intend to keep working there I would comply.

FINRA or prior NASD regulations require employees to be background checked, This is due to the sensitive personal information, securities, funds, checks, negotiable instruments, etc that come into and out of a broker/dealer every day.

You may not be a FINRA Registered Rep, but you are still bound by the obligations and rules that bind the organization.

They should also be asking to run a criminal background check by getting fingerprints too.

Good Luck,

Read more
Answered on 12/11/08, 4:10 pm


Related Questions & Answers

More Banking Law questions and answers in North Carolina