Finra files proposed expungement rule
The Financial Industry Regulatory Authority Inc. of New York and Washington has filed a proposal with the SEC that would impose new rules governing the removal of complaint data from brokers’ regulatory records.
The Financial Industry Regulatory Authority Inc. of New York and Washington has filed a proposal with the SEC that would impose new rules governing the removal of complaint data from brokers’ regulatory records. The rule would require that before arbitrators could recommend such expungement, they would have to hold a hearing and provide a written explanation of the reasons for ordering expungement. For a look at the filing, visit finra.org/web/groups/rules_regs/documents/rule_filing/p038134.pdf.
Learn more about reprints and licensing for this article.