Key Points Regarding CRD and BrokerCheck Expungement for Registered Representatives

Posted on August 6th, 2018 at 10:24 AM
Key Points Regarding CRD and BrokerCheck Expungement for Registered Representatives

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the first in a series of posts to help guide registered representatives through the process of expungement of customer complaints and other fake or misleading information on their public record.  

To begin, all registered representatives are part of the CRD system. The CRD system is the central licensing and registration system for the U.S. securities industry and its regulators, which contains the registration records of more than 3,700 registered broker-dealers, and the qualification, employment and disclosure histories of more than 629,000 active registered individuals.

Maintaining a clean CRD record is significant for the following reasons:

  • Investors use the CRD system through FINRA’s Brokercheck system to check the background of a registered representative; and
  • Broker-dealers rely on the CRD when reviewing a registered representative’s employment application.

Registered representatives may seek to expunge information from their CRD record, including customer dispute information, criminal incidents and employment termination information.  

The securities attorneys at Eccleston Law, LLC assist advisors in filing CRD expungement claims.  Please contact our law firm at 312.332.0000 for a free consultation.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, SEC, Fossil Energyexpungement

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Thank you so very much for your guidance, patience, and expertise.

Beth and Steve K.


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