FINRA’s Expungement Reform Proposal

The Financial Industry Regulatory Authority (FINRA) has proposed an expungement reform to the process by which brokers can expunge their records and execute a customer's will.

FINRA Approve Six New Rule Proposals

According to the latest financial news, FINRA approved six new rule proposals, including:

- A plan for specialized arbitrators (made up of a three-person panel) to decide over broker expungements' cases.

- A motion that would require registered representatives to obtain permission from their firms before becoming a beneficiary, executor, or trustee for a client.

Other expungement reform proposals voted on by the board included publishing U.S. Treasury securities data, reforming capital acquisition broker rules, compensating disciplinary hearing panelists, and enhancing requirements for inter-dealer quotation systems.

It is essential to highlight that not all of the proposals have been released for public comment.

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Dimond Kaplan & Rothstein, P.A. has vast experience representing investors who have lost money as a result of securities fraud or brokerage misconduct. We will aggressively pursue claims to recover your losses or damages.

If you are looking for a securities fraud attorney to review your rights and options, the securities fraud lawyers at Dimond Kaplan & Rothstein, P.A. represent individual and institutional investors who have lost money as a result of securities fraud or brokerage misconduct.

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