How Long Do FINRA and SEC Investigations Typically Last? - Transcript

Investigations as well as state and investigation because State they all three have parallel jurisdiction over you tend to go on for a very long time so many clients I’ve represented can’t we just settle this can’t we just do this I mean why does this have to drag on for years but they have very stringent administrative processes it goes from the staff that’s investigating up to the manager and then the manager has to say yes I think we should pursue this and it goes to the regional manager then from the regional manager it goes all the way up to this Committee in DC that has to say yes or no we’ll pursue this and then it comes all the way back down sometimes with changes this process goes on for years and many people can’t believe they can’t get out of it sooner and they really want to and I sympathize with them it’s like justice delayed is Justice denied but you know we do try to move them along as quickly as possible but they’re all understaffed and have very stringent procedures internally that you know unfortunately cause these investigations to go on for for too long.