FINRA Sets Proposal to Temper Expungement in Motion

Posted on September 25th, 2015 at 2:06 PM
FINRA Sets Proposal to Temper Expungement in Motion

From the Desk of Jim Eccleston at Eccleston Law LLC:

FINRA voted to move ahead with new regulatory initiatives for broker-dealers. One of which would amend codes of arbitration with the goal of making it tougher for brokers to erase black marks from their public record.

The arbitration panel would instate several requirements such as receiving a copy of the BrokerCheck report when deciding expungement, as well as providing more detailed reports of the rationale for granting expungement in arbitration awards.

The new regulations from FINRA come after a series of developments that started to roll out in October 2013. It was during this year that expungement requests were granted in as many as 90% of cases resolved by settlement.

In an effort to reduce these numbers, the SEC signed off on a new rule that prevented firms from including an agreement where the claimant would not oppose expunging a part of the settlement.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law LLC, James Eccleston, eccleston, Eccleston Law, FINRA, BrokerCheck

Return to Archive



We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele


June 30, 2022
FINRA Fines United Planners Over GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has fined United Planners’ Financial Services of America over negligent sales of private placements issued by GPB Capital Holdings.

June 29, 2022
J.P. Morgan Advisors Ordered To Pay Former Partner $620,000

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered a J.P. Morgan team to pay their former partner at least $620,000 over the dissolution of a partnership.

June 28, 2022
JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches

The market for sustainability-linked loans is still severely prone to “greenwashing”, or investing more time and effort into marketing itself as environmentally friendly rather than actually minimizing its environmental impact, according to one of J.P. Morgan’s managers who often helps to sort through debt that is pitched to the company.