The Securities and Exchange Commission approved updated rules to FINRA’s expungement process. The updated rules make it more difficult for registered representatives to expunge customer complaints from their records. Importantly, this rule change does not impact...
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Expungement Claims
Chicago UBS broker wins arbitration case expunging complaints from record
A Chicago broker attempting to have investor complaints expunged from his record has won his arbitration claim, according to AdvisorHub. The broker, David A. Hirsch, has been with UBS Wealth Management USA since 2016. The case involved UBS’s complex options strategy...
SEC receives revised proposal from FINRA on reform of expungement process
The Financial Industry Regulatory Authority has submitted a revised version of its proposal to reform the process for brokers expungement requests, according to a report by InvestmentNews. As we reported in May, the revisions were first approved by FINRA’s Board of...
FINRA pushes for reforms in expungement process for financial reps
The Financial Industry Regulatory Authority is proposing additional steps to revamp the expungement process available to registered financial professionals, according to Financial Advisor. FINRA addressed the topic in a recent discussion paper on the expungement of...
Former J.P. Morgan advisor awarded $1.4 million over defamation claim
A Financial Industry Regulatory Authority arbitration panel ruled in a favor of a former J.P. Morgan Chase advisor in his defamation claim against the company, AdvisorHub reports. The decision came in the case of Dustin B. Luckett, who was awarded $1.4 million by the...
