Broker Record Expungements
Broker Record Expungements:
Restoring Your Good Reputation
Over 35 years of Experience ◊ New York Lawyer ◊ Nationwide Practice
As a broker, your reputation is your most important asset. Your record is made public for any potential client to see at www.finra.org. If potential clients find negative information about you from such a public record, they aren’t likely to hire you.
For those who are falsely accused of wrongdoing, broker record expungement must be sought quickly and decisively. Your industry is too competitive for false negative information to be allowed to stand on your record. Especially now, when any investor can find it just by looking you up on FINRA’s Web site.
In addition to causing trouble gaining new clients, negative information on your record can cause broker registration problems if you try to get licensed in a new state.
Attorney David E. Robbins of Kaufmann Gildin & Robbins LLP handles broker record expungement throughout the United States. With over 35 years of experience handling securities industry issues, he is seen as a leading national authority on this topic. He has written a prolific number of articles, as well as the definitive textbook Securities Arbitration Procedure Manual.
How Does False, Negative Information Get on Your Record?
Most come from one of two sources:
- The first is a former employer. When a broker leaves a firm, the firm sometimes puts negative information on the broker’s U-5 form to keep the broker from taking clients along to his or her new job. In this instance, we request arbitrators to have the brokerage firm remove the damaging wording from the broker’s record (the U-5).
- The second source is a dissatisfied former client who files false accusations in arbitration. The arbitration appears on your record. If the arbitrators determine that the accusations were baseless, we can ask them and the court to have the record of the arbitration itself deleted from your official record.