Analysis of cutting-edge securities industry issues
A senator wrote to FINRAand the SEC raising concerns about the high rate that broker-dealers have complaints expunged from their records. See http://www.markey.senate.gove/documents/2013-10-25_FINRA.pdf; http://www.markey.senate.gove/documents/2013-10-25_SEC.pdf.
In the letter to…
Continue Reading EXPUNGEMENT CONCERNS RAISED BY CONGRESS
FINRA approved new rules to require member firms to verify the accuracy of information provided on a prospective applicant’s Form U4. See http://www.finra.org/Newsroom/NewsReleases/2014/P493588.
The new FINRA rules will now…
Continue Reading Broker-Dealers Must Now Investigate Potential Registered Representatives
FINRA recently announced a change to the supervision rule to require hiring firms to conduct background checks on new employees. This rule change raises the question; what have member firms …
Continue Reading Is “Big Brother” Such A Bad Thing
A frequent tool for settlement was to make a stipulated award that included expungement of the registered representative’s U-4 a condition of settlement. FINRA recently announced that it is “developing …
Continue Reading Is This The Beginning Of The End To Expungment Agreements
A must read is the article in this quarter’ s The Neutral Corner, published by FINRA Dispute Resolution, and authored by John D. Nachmann, Esq., Deputy Chief Counsel, FINRA…
Continue Reading FINRA Deputy Counsel Article on Expungements
