The Important Difference Between Central Registration Depository Forms & Forms U4, U5

Well, it happened again last month.  A testifying fact witness became confused about the Central Registration Depository (“CRD”), forms U4 and U5. He showed his unfamiliarity with this system by testifying that a certain activity would give the registered person a bad U4.  He was confusing the form U4 with FINRA’s CRD System.   An industry panel member would have picked up on this and the witness would have lost credibility. Read more »