Expungement

Removal of disclosures from BrokerCheck and the Central Registration Depository (“CRD”)

 

FINRA Expungement

FINRA arbitration is the traditional place to obtain expungement of eligible disclosures from BrokerCheck. The most common disclosures are customer disputes and terminations.

Customer dispute removal is governed by FINRA Rule 2080. Termination disclosure removal is governed by FINRA Rule 8312g.

HLBS Law has completed well over two hundred arbitrations at this point and has a lot of experience with FINRA arbitration. Here is the general process:

  • Filing a Statement of Claim

  • Receiving a Statement of Answer

  • Arbitrator Selection

  • Initial Pre-hearing Conference (setting of hearing dates, witness lists, discovery etc.)

  • Final Hearing on the Claim.

  • Most arbitration cases can range from 6-12 months depending on the complexity of the matter. Expungement in FINRA arbitration is seeing substantial change recently, contact us today for more details.

Alternative Forum Expungement

The landscape for expungement for financial professionals is shifting considering recent rule changes by FINRA in 2023 to limit and deter expungement.

HLBS Law has a new path for expungement outside of FINRA arbitration. This new path also comes with the added benefit of being quick and more cost efficient compared to FINRA arbitration.

As discussed above in FINRA arbitration, the process is similar, but this alternative path can result in a negotiated expungement without the need for a final hearing.

HLBS Law will consider numerous factors as to whether your disclosure qualifies, such as: age of the disclosure, the final resolution of the disclosure, type of product, supporting documentation, and many other factors. Contact us today to see if you qualify for this new path.