Broker- Dealer Law Corner

Broker- Dealer Law Corner

Category Archives: Expungement

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Expungement: Already An “Extraordinary Measure,” FINRA Now Seeks To Make It Even Less Accessible

Posted in Arbitration, Expungement, FINRA
Expungement is a funny thing, and here’s why: for years, claimants’ counsel have complained loudly to FINRA that expungement was being granted too frequently, that legitimate customer complaints were disappearing from CRD, resulting in an unfair, sanitized representation of brokers’ records that put unsuspecting customers at risk.  As Andrew Stoltmann, PIABA’s president, put it so… Continue Reading

FINRA’s 2016 Examination Priorities Letter: Focus On “Firm Culture”

Posted in Compliance, Expungement, FINRA, Senior Investors, Suitability, Supervision
Yesterday, FINRA released its annual Examination Priorities Letter in which it set forth the top issues that would guide its examinations in the coming year. Running 13 pages in length (while complaining about having to be so “brief”), FINRA set forth some of the “many areas of potential concern” it expects to encounter this year.… Continue Reading

Correlation DOES NOT Equal Causation: PIABA’s Ongoing Quest to Sully the Reputation of Financial Advisors

Posted in Arbitration, Expungement
Today, the Public Investors Arbitration Bar Association (PIABA) published another hit piece on the expungement process.   For those of you interested, you can find it HERE.   Again and again, PIABA issues press releases and reports contending that the expungement process is broken because expungement is granted at an “alarmingly high rate.”  Let’s start with the… Continue Reading
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