The language a firm uses on a terminated advisor’s FINRA Form U5 can cause irreparable damage to their public record and ability to move to another firm. This week, we talk with our President and Founder, Doc Kennedy, MBA, J.D., about how advisors can recover from a defamatory FINRA Form U5 termination disclosure.
If you’re interested in seeing more of these types of videos or want to stay on the pulse of FINRA’s latest regulatory updates and rule changes, follow our Linkedin page or our FINRA Dispute & U5 Termination Resolution page.
I can’t speak to your situation uniquely, but generally speaking, when damages are being sought we need to take a look at what damages can be quantified, (i.e, expenses, direct costs incurred as a result of the termination…). We’ll have to look at damages that we suspect that we can estimate. Generally speaking, in order to recover monetary damages in an action against a former employer, whether it be an RIA or broker-dealer, it is critical that facts and evidence are significant and substantial and favor the underlining cause of action.
- Can I be terminated due to an investor complaint? - January 12, 2023
- Can I sue my broker-dealer or RIA for damages if I was terminated? - April 28, 2022