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
Join Michael J. Charlillo as he discusses FINRA's latest expungement process enhancements. He will explore process changes implemented when requesting and obtaining expungement of customer dispute information. Michael will...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 month,...more
The implementation date for FINRA’s new, more strict expungement rules has been set for October 16, 2023. The new rules make it much harder for registered representatives to expunge negative customer-related complaints,...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
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 Financial Industry Regulatory Authority, Inc. (FINRA) is an independent regulatory body, overseeing securities firms and their brokers and other registered personnel. Arbitration of employment disputes in the arbitration...more
A couple of years ago, I complained about PIABA’s effort to make expungement even more difficult to obtain. Well, fast forward to June 1, and, as Chris Seps explains here, the SEC has approved the first proposed expungement...more
Here is how PIABA’s one-track mind operates: in a Report it just issued, PIABA laments the frequency with which registered reps are able to get customer complaints expunged from their records. The sole reason for this, PIABA...more
Although songs and Broadway musicals routinely call upon “memories” as inspiration, it usually is not the province for decisions in FINRA arbitrations. However, we were treated to a memory lesson in what, at first blush,...more
It’s hard to keep up with the news these days. It sometimes feels like you can’t step away from your phone, computer, or TV for more than an hour or so without a barrage of new information hitting the headlines—and you’re...more
Securities attorneys routinely are asked by people in the securities industry a form of this question: “how do I get rid of the marks on my license.” Typically, registered representatives are talking about the fact of life in...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
PIABA – the securities-investor plaintiff’s bar – issued an October 16 press release roundly criticizing industry self-regulatory rules allowing a broker to seek expungement of a customer-claim from her permanent record....more