FINRA May Curb Brokers’ Ability to Cleanse CRD Records

Posted on February 10th, 2014 at 4:00 PM

From the Desk of Jim Eccleston at Eccleston Law Offices:

FINRA intends to modify the expungement processby proposing to eliminate brokers’ ability to demand CRD expungement as a condition in a settlementagreement with an investor.

In recent guidance to arbitrators, Finra underscored the “extraordinary nature of expungement relief” and urged them to consider carefully whether clearing a broker's record could deny important information to investors reviewing a rep’s background.

We will update readers as this effect unfolds.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

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