Customer Dispute Expungement
The Financial Industry Regulatory Authority (“FINRA”) maintains a central licensing and registration system for financial advisors and the US securities industry called Web CRD® (Central Registration Depository). This system serves as a comprehensive database of the employment and disclosure histories of more than 634,000 active registered individuals.
As part of FINRA's ongoing efforts to promote transparency and investor protection, they created a site called BrokerCheck®. This site is designed to help investors research and evaluate potential brokers or financial advisors by providing access to key information such as employment history, educational background, and any disclosure events.
One critical aspect of the BrokerCheck® disclosure section is information regarding customer complaints, arbitrations, regulatory actions, employment terminations, bankruptcy filings, and any civil, tax, or criminal proceedings. These disclosures can have a significant impact on an advisor's reputation and career prospects, making it challenging to market themselves and move to a different firm.
One common type of disclosure is a customer dispute. While some of these disputes are legitimate and should be disclosed, many are meritless and can be removed (or "expunged") from an advisor's CRD through arbitration under Rule 2080.
At FA Expungement Services, LLC, we understand the importance of a clean CRD and the impact that meritless customer disputes can have on an advisor's reputation. That's why we're dedicated to helping our clients navigate the expungement process and remove these unwarranted marks from their record. Contact Us today to learn more about how we can help you protect your reputation and take control of your career.