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Award Date: October 31, 2025
Representative: William Bean, Esq., HLBS Law
Respondent Firm: Edward Jones
Case Objective:
A South Carolina-based financial advisor (FA) sought to erase a misleading Form U5 termination disclosure from her CRD and BrokerCheck records. The “allegations” referenced internal reviews of electronic messaging and client annual check-ups—implying violations that never happened. The vague wording stalled the FA’s career transition, despite an otherwise-flawless history. Through HLBS Law, she filed for FINRA expungement to eliminate the inaccurate stain and move forward unhindered.
Summary:
The FA joined Edward Jones in September 2018. Each year, she faithfully completed reviews for all clients, including joint spousal accounts, and she followed firm email rules and guidelines, without exception. The FA secured approval for unpaid volunteer positions on a church finance council and board.
In 2023, a compliance inquiry flagged the FA’s firm email use for church board matters, a phone-based IRA review, and a routine spousal account transfer that had been delayed one day by settlement timing. The flags prompted a year of elevated oversight, brief email restrictions, and extra training for the FA. Subsequent audits and supervision checks rated her satisfactory.
However, in November 2024, a single videoconference with compliance staff ended in her immediate termination. The December Form U5 labeled her “discharged” over policy adherence in communications and reviews, despite no client harm, complaints, or intentional misconduct.
Resolution:
The advisor’s May 2025 statement of claim requested full expungement of the termination occurrence and accompanying internal review. Edward Jones submitted a neutral answer and joint stipulation in July. A virtual hearing took place on October 30, 2025.
After reviewing the evidence and hearing testimony by the FA and arguments by William Bean, Esq., the sole FINRA arbitrator ruled to expunge all related references. He recommended reclassifying the termination as “Voluntary,” blanking the explanation field, and flipping “Yes” answers on the Form U5 to “No.”
The decision rested on the information’s defamatory character, emphasizing the internal nature of the issues and absence of any customer or investment-related wrongdoing.
The outcome wiped this FA’s record clean, freeing her to rebuild her practice without lingering shadows.
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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.