DEFENDING YOUR PROFESSIONAL INTEGRITY
Stay current on recent changes in the regulatory environment
A lot of our clients feel that their broker-dealer should, on the broker’s behalf, pursue the expungement award when expungement is a probable success. There tend to be three main reasons why broker-dealers are not willing to accept the additional risk exposure.
FINRA sets up the B/D to be the “bad cop” while FINRA maintains a semblance of impartiality; the “good cop.” When the Broker-Dealer becomes aware of the customer complaint, the B/D is required (by FINRA) to inform FINRA. The dispute is then put on the broker’s profile. In essence, FINRA requires the B/D to punish their own broker.
AdvisorLaw has a dedicated team of attorneys and staff whom specialize in representing brokers marred by disclosures viable for expungement from the CRD system. Contact me today if you or a colleague has disclosures on BrokerCheck that may qualify for expungement.
Read our commentary in InvestmentNews here.
President, Managing Attorney
3400 Industrial Lane, Unit 10A
Broomfield, CO 80020
Main Ph: (303) 952-4025
Fax: (720) 452-0613
This blog is my ongoing effort to inform and educate FINRA licensed professionals about the evolving regulatory ecosystem in which we operate.