FINRA BROKER EXPUNGEMENT RULES -2015 UPDATE
In the past several years, FINRA, the Securities and Exchange Commission and a
number of investor protection groups including PIABA (the Public Investor Arbitration
Bar Association) have made a concerted effort to expand and publicize the availability of
broker background and CRD records (known as “BrokerCheck”) on the FINRA portal
(www.finra.org) and to make the BrokerCheck portal more robust, user friendly and
transparent. As a result, more and more of the investing public is aware of, and routinely
accesses the BrokerCheck feature on the FINRA web portal to investigate the background
of a prospective or existing registered representative. What information appears on a
broker’s BrokerCheck, therefore, has become increasingly important to all registered
representatives, particularly those with negative disclosure items on their CRD reports,
who have an increased desire to seek to expunge some or all of the disclosure items from
their CRD and BrokerCheck records.
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