5 Key Takeaways | Petitions for Expungement or Reexamination of the Trademark Modernization Act
The Clean Slate Act’s Impact on Employers
Expungements: A Helping Hand for a Second Chance and New Opportunities
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month,...more
Recently, the Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority's (FINRA) latest attempt to make expungement of customer disputes harder. The latest changes will make successful...more
On April 12, 2023, the SEC approved FINRA’s proposed expungement overhaul, a process that started in earnest in December 2017. See Release No. 34-97294; File No. SR-FINRA-2022-024. The latest rule changes, which FINRA...more
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This...more
On July 29, 2022, FINRA sent a new set of proposed rule changes designed to overhaul the expungement process to the SEC for approval. These proposed rules come as a follow-up to FINRA’s original proposal submitted to the SEC...more
FINRA recently published a “Discussion Paper” on expungement of customer dispute information in which it outlines its plans going forward on revising the expungement process. Expungement_Discussion_Paper.pdf (finra.org) (Let...more
State securities regulators have long expressed reservations about the use of the expungement remedy. Recently, we have observed a marked increase in the use of alternative (read: aggressive) efforts by states to impact the...more
As it was for the rest of the world, 2021 was an interesting year for the Financial Industry Regulatory Authority (FINRA). Originally published in American Bar Association’s Securities Litigation section - March 17th,...more
On September 22, 2020, FINRA sent proposed rule changes designed to overhaul the expungement process to the SEC for approval. On Friday May 28, 2021 – the same day the SEC was slated to adopt or reject the proposal – FINRA...more
Today FINRA announced in a press release here that it has withdrawn from SEC consideration its proposed rule changes regarding the expungement process. The proposed rule changes were dramatic and included the creation of a...more
In a move that surprised nobody, PIABA recently released an updated study on expungement awards from 2019/2020, and, in the most predictable fashion, they continue to complain that the expungement process is rigged and that...more
The second dramatic change to the expungement process under the proposed rules relates to who will be deciding the expungement request. Thankfully, FINRA will still have arbitrators decide expungement requests, not the...more
Earlier this month, the SEC approved the first of several rule changes that FINRA has proposed for the process governing the expungement of customer complaints from a broker’s record. The approved rule change will make it...more
Bass, Berry & Sims attorney Chris Lazarini discussed whether a federal court has subject matter jurisdiction over an expungement petition. While several courts have previously said no, this court directed the parties brief...more
Many a school child has received the awful warning to be careful lest some offense be entered on his or her “permanent record”. As required by statute (15 U.S.C. § 78o-3(i)), the Financial Industry Regulatory Authority, Inc....more
On July 22, the Securities and Exchange Commission authorized the Financial Industry Regulatory Authority, Inc. to implement FINRA Rule 2081 prohibiting brokers from conditioning settlement of customer complaints on (or...more
On July 22, the U.S. Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority’s (FINRA) proposed Rule 2081, which prevents firms or associated persons from conditioning settlement or...more
On July 22, the SEC approved amendments to FINRA Rule 2081 that prohibit member firms from conditioning arbitration settlements (or seeking to) upon a customer’s assent to CRD expungement relief. The Rule amendments prohibit...more
In this issue: - US Court of Appeals for the District of Columbia Circuit Partially Invalidates Conflict Minerals Rule - FINRA Proposes Rule 2081 to Prohibit “Bargained-For” Expungements - SEC Issues FAQs...more