A CRD number is the permanent identification number that the Financial Industry Regulatory Authority (FINRA) assigns to every securities professional and firm registered in the United States. It stays with the person or firm for life, through job changes, name changes, and retirement. If you have a broker’s or adviser’s CRD number, or just their name, you can pull up their licensing history, employment record, and any customer complaints or disciplinary actions for free.
Where CRD Numbers Come From
The number is generated by the Central Registration Depository, an electronic system that handles licensing and registration for the U.S. securities industry.1FINRA. Central Registration Depository (CRD) FINRA administers it, and state securities regulators use the same system to process registrations in their jurisdictions.2Investor.gov. Central Registration Depository (CRD) Because everything runs through one database, a professional cannot leave a problem behind by switching firms or moving to a new state. The record follows the number.
Who Has a CRD Number
Both individuals and firms get one. Individuals receive a number when their sponsoring firm files a Form U4, the Uniform Application for Securities Industry Registration, on their behalf.3FINRA. Form U4 Uniform Application for Securities Industry Registration If the person already has a CRD number from an earlier registration, the same number is reused.
- Registered representatives who sell securities on behalf of a broker-dealer
- Investment adviser representatives, who may register through the CRD or the linked Investment Adviser Registration Depository (IARD) system4U.S. Securities and Exchange Commission. Electronic Filing for Investment Advisers on IARD
- Broker-dealer firms themselves, with a firm-level number separate from any representative’s
- Investment advisory firms
- Branch office locations of broker-dealer firms1FINRA. Central Registration Depository (CRD)
Someone who claims to sell securities or give investment advice but has no CRD number is a warning sign. Registration is a legal requirement in most situations, and the absence of a number means the person hasn’t gone through it.
What a CRD Number Reveals
The number is a key to a detailed profile covering qualifications, employment, and disclosure events.1FINRA. Central Registration Depository (CRD)
Exams and Employment
The record shows which qualification exams the person has passed, such as the Series 7 or the Series 66, along with the dates.5FINRA. FINRA Rule 8312 – FINRA BrokerCheck Disclosure It also lists every firm the person has worked for in the industry, with dates and the capacity they served in.
Disclosure Events
Disclosures are the reason most investors look up a CRD number. They’re reported on Forms U4 and U5 and cover:
- Criminal matters, including felony charges or convictions and certain misdemeanor charges involving theft, fraud, or bribery
- Regulatory actions by FINRA, the SEC, state regulators, or other bodies, including fines, suspensions, and bars
- Customer disputes, including formal written complaints, arbitration claims, and civil litigation; firms must report settlements above $25,0006FINRA. Rule 4530 Frequently Asked Questions
- Financial events such as bankruptcies, unsatisfied judgments, and liens
- The circumstances of leaving a firm, particularly if the departure was involuntary or followed an internal review
Registration statuses are kept current, so you can also see whether the person is active, inactive, or has had their registration revoked.
How to Look Up a CRD Number
Two free public tools do the searching. You can enter a name or a CRD number in either one.
BrokerCheck
FINRA’s BrokerCheck is the main portal for brokers and brokerage firms.7Financial Industry Regulatory Authority. BrokerCheck – Find a Broker, Investment or Financial Advisor The report shows employment history, licensing information, regulatory actions, and customer complaints, and you can download the full PDF.8U.S. Securities and Exchange Commission. Using BrokerCheck It’s written for the general public.
Investment Adviser Public Disclosure
For investment advisers and their representatives, use the SEC’s Investment Adviser Public Disclosure (IAPD) site. You can search by individual name, firm name, or CRD number, and the site displays Form ADV filings along with employment history, current registrations, and disciplinary disclosures.9U.S. Securities and Exchange Commission. IAPD – Investment Adviser Public Disclosure IAPD also cross-checks BrokerCheck, so one search shows whether the same person is registered as both a broker and an adviser. That’s common, and knowing which hat someone is wearing in a given interaction matters.
What You Won’t See
Not everything in the CRD is public. Under FINRA Rule 8312, BrokerCheck does not release exam scores or information about failed exams; it only confirms which exams the person passed and when.5FINRA. FINRA Rule 8312 – FINRA BrokerCheck Disclosure Regulators have access to a fuller record than what the public tools display.
Why the Search Is Worth Two Minutes
Confirming that someone is actually registered is the first payoff. If a person is soliciting your money as a broker or adviser and does not appear in BrokerCheck or IAPD, treat that as a serious problem.
Second, the search reveals patterns a professional is unlikely to bring up on their own: several customer complaints, a past suspension, a string of short stints at different firms after disciplinary events. Because the CRD collects reports from every state and federal regulator the person has dealt with, a single search captures the full picture across jurisdictions.
If the Record Is About You
Professionals occasionally land on this page because something on their own BrokerCheck report is wrong or unwanted. There are two separate paths, and they aren’t interchangeable.
Factual Errors
Under FINRA Rule 8312(e), a current or former registered person can dispute inaccurate factual information on their BrokerCheck report.10FINRA. Guidelines for the BrokerCheck Dispute Process You submit a signed BrokerCheck Dispute Form and supporting documents to FINRA by email. While the review is pending, FINRA marks the report to show the matter is under review. If the evidence is inconclusive, FINRA generally defers to the entity that originally reported the information. Disagreements with how a complaint was characterized, or attempts to reopen a settled matter, do not qualify.
Expunging Customer Dispute Information
Removing a customer complaint or arbitration record is much harder. FINRA Rule 2080 requires either a court order or a confirmed arbitration award directing the removal, and FINRA must generally be named as an additional party in the court proceeding.11FINRA. Frequently Asked Questions About FINRA Rule 2080 (Expungement) An arbitration panel can only recommend expungement on one of three narrow grounds:
- The claim or allegation is factually impossible or clearly erroneous.
- The registered person was not involved in the alleged misconduct.
- The claim or allegation is false.
The panel has to explain in writing which ground it relied on and identify the evidence supporting the decision. If a three-person panel hears the case, the vote must be unanimous.11FINRA. Frequently Asked Questions About FINRA Rule 2080 (Expungement)