Rules for complaint data face changes
The SEC is considering changes to the rule governing the removal of complaint data from brokers’ regulatory records.
The SEC is considering changes to the rule governing the removal of complaint data from brokers’ regulatory records. Filed by Finra, the proposed rule change would require that before arbitrators can recommend expungement, they would have to hold a hearing and provide a written explanation of the reasons for ordering such an action. Comments were due in April. For a look at the filing, visit sec.gov/rules/sro/finra/2008/34-57572.pdf.
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