To the dismay of financial advisors across the country, FINRA has taken notice of the public’s negative association with expungement of customer complaints from central registration depository (“CRD”) records. As a result, the standards a financial advisor must meet to convince a FINRA arbitrator to recommend expungement of a customer complaint from their record have […]
Tag Archives: Broker Advocacy
On February 14, 2014, WealthManagement.com ran Patrick Mahoney’s editorial, Both Costly and Ineffective?, as part of his periodic column, The Legal Rep. A link to the article is available HERE. This week FINRA’s Board of Directors authorized FINRA to seek comment on a proposed rule that would require firms to “include a readily apparent reference and link […]
On December 11, 2013, WealthManagement.com ran Patrick Mahoney’s latest editorial, FINRA’S Proposed Changes to the Broker Expungement Process, as part of his periodic column, The Legal Rep. A link to the article is available HERE. The article’s content is available below: In April 2012, FINRA released Regulatory Notice 12-18, which features FINRA’s proposed overhaul of […]
On November 22, 2013, WealthManagement.com ran Patrick Mahoney’s editorial Petty Crimes on Broker Records – Can they be Expunged?. A link to the article is available HERE. The article’s content is available below: FINRA rules require brokers to make extensive and often intrusive disclosures (vis-à-vis a broker’s Central Registration Depository (“CRD”) record) concerning their work and disciplinary […]
On August 19, 2013, InvestmentNews magazine ran an Op-Ed concerning broker expungement authored by Patrick Mahoney. The article is available HERE and a preview of it is below.
In response to the SEC’s approval of FINRA’s request to share more information about brokers’ disciplinary records, Patrick Mahoney was featured in the Investment News article entitled: FINRA gets OK to share more info about reps’ disciplinary records. In short, the article highlights the fact that FINRA will now be making available even more detailed information […]
Since FINRA implemented FINRA Rule 2111 (aptly named, the “Suitability Rule”) in July 2012, broker-dealers have been scrambling to update their internal systems and educate their brokers to prepare for the rigors of the rule change. Indeed, the Suitability Rule creates a totally ambiguous (and borderline impossible) standard that brokers are expected to meet before he […]
