Expungement Update: FINRA Responds to Comments and Files an Amendment; SEC Seeks Comments on Changes and Disapproval
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By George H. Friedman, SAA Publisher & Editor-in-Chief

Those who thought we were nearing the end of the road for FINRA’s proposed changes to the expungement process need to rethink their assumptions.

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Institutional Comments, Mostly Supportive But with All Suggesting Further Modifications, on FINRA’s Proposed Expungement Changes. Individual Industry Commenters Uniformly Oppose the Rule
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By George H. Friedman, SAA Publisher & Editor-in-Chief

The comment period closed earlier this month on FINRA’s proposed changes to the expungement process.

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FINRA Files with SEC Board-Approved Changes to Expungement Rules
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By George H. Friedman, SAA Publisher & Editor-in-Chief

FINRA staff this week followed up on recent Board approval to file a new expungement rule.

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Alabama Securities Commission Moves to Vacate FINRA Expungement Award for Procedural Improprieties
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By Harry A. Jacobowitz, Esq.*

In a timely move, the Alabama Securities Commission (“ASC”) raises serious questions about the procedure employed in a recent FINRA expungement proceeding,

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Arbitrators Find firm Liable for Negligent Supervision But Order Expungement for “Unnamed” Broker
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By George H. Friedman, SAA Publisher & Editor-in-Chief

Although Credit Suisse is held liable for negligent supervision, the Arbitrators nonetheless recommend expungement of the claimant broker’s record (who was “unnamed” in the sense that he was not named as a party in the underlying arbitration).

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It’s Been More than Three Months Since FINRA Went Back to the Drawing Board on the Expungement Rule. How Long is “Temporary”?
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By George H. Friedman, SAA Publisher & Editor-in-Chief

It’s been a while since FINRA temporarily withdrew its expungement rule change proposal. We thought it was time to check in.

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