Misleading Termination Expunged From Pennsylvania Advisor’s Record

• A Pennsylvania financial advisor successfully expunged a misleading 2024 termination disclosure from his FINRA CRD and BrokerCheck records.
• The advisor was falsely terminated by Edward Jones for alleged anti-retaliation and timesheet policy violations, which were found to be unsubstantiated.
• The FINRA Arbitrator ordered expungement, ruling the disclosure misleading and defamatory-in-nature under FINRA Rule 8312(g)(1).
• This case highlights the successful process for financial professionals to remove inaccurate Form U5 termination information and restore their unblemished records through FINRA Dispute Resolution.

In March 2024, a Pennsylvania-based financial advisor (FA) faced a damaging termination disclosure on his Central Registration Depository (CRD) and public BrokerCheck® records. The disclosure inaccurately claimed that he had been discharged by Edward Jones for alleged violations of anti-retaliation and timesheet accuracy policies. The misleading entry harmed the FA’s reputation and career prospects. With AdvisorLaw’s assistance, the FA pursued expungement through FINRA Dispute Resolution to restore his unblemished record.

For over 12 years, the FA had maintained an exemplary career in the industry with no disclosures on his public record. From May 2012, to February 2024, he served as an FA with Edward Jones in Pennsylvania.

Despite consistently adhering to the firm’s policies, the FA was terminated on February 20, 2024, following internal disputes involving an administrative assistant’s insubordination and false accusations. On March 20, 2024, Edward Jones filed a Form U5 stating that the FA had been “discharged” due to concerns that he had not adhered to the firm’s anti-retaliation and timesheet accuracy policies, despite the fact that the matter had not been related to securities or clients. The FA disputed the filing, highlighting his compliance with policies and the lack of substantiation for the allegations.

The FA’s Statement of Claim for FINRA Dispute Resolution sought expungement under FINRA Rule 8312(g)(1), arguing that the termination disclosure was defamatory-in-nature and misleading. Edward Jones denied the allegations in its Statement of Answer.

The expungement hearing was conducted via teleconference on June 24, 2025. Dochtor Kennedy, MBA, J.D. and Alex Padla, Esq. presented the FA’s case with testimony and evidence, including communications with Edward Jones’s HR team —demonstrating that the FA had indeed adhered to firm policies and that the termination stemmed from unsubstantiated claims by an administrative assistant. Edward Jones did not contest the evidence.

The FINRA Arbitrator reviewed the pleadings, testimony, and evidence. Finding the termination disclosure to be misleading and defamatory-in-nature, the Arbitrator noted that the FA’s conduct had not warranted termination and that the allegations misrepresented the circumstances.

On June 27, 2025, the Arbitrator ordered expungement of all references to the termination disclosure from the FA’s CRD and BrokerCheck® records, per FINRA Rule 8312(g)(1). The Reason for Termination on the Form U5 was amended to “Voluntary,” and the Termination Explanation was deleted entirely.

This decision restores the FA’s pristine record, enabling him to pursue his career without the burden of a misleading 2024 termination disclosure and reinforcing his commitment to professional excellence in financial services.

Facing a similar situation? Contact our team today for a complimentary consultation to evaluate your case. Our experts will assess the viability of expungement and guide you through the process.