As we begin the new year and officially close the book on 2020, it’s more important than ever to take control of your online presence and protect your good name. That becomes especially true when removing IRS liens – the most damaging of all public disclosures – from your record. Advisors with tax debt disclosures on their CRD and BrokerCheck …
AdvisorLaw’s new “Rideshare Program” helps financial advisors expunge customer disputes and U5 termination disclosures
AdvisorLaw is now offering a “Rideshare Program” for financial advisors seeking to expunge customer dispute or U5 termination disclosures for the entire month of December. With over 40 million visitors to BrokerCheck® every year, you and your teammates can’t afford to lose a client over a meritless disclosure on your record. But we can help to restore your good name. If you …
Expungement Week 2020
Over the last five years, Doc Kennedy and AdvisorLaw have been dubbed the “800-pound gorilla” when it comes to FINRA arbitration cases. That reputation has been earned by absolutely dominating the FINRA arbitration landscape. Maybe it’s the quarantines, the lockdowns, or the imminent FINRA arbitration fee increases, but the gorilla is eager to help this year. Doc has decided to give back …
Advisors pursuing customer dispute expungements before September will pay a fraction of the new cost.
As published in the Federal Register, on June 1, 2020, the SEC approved FINRA’s proposed Rule changes to the customer dispute expungement process. Release No. 34—88945; File No. SR—FINRA—2020—005. In short, the following provisions of the recently-approved Rule apply to all matters in which expungement of a customer dispute disclosure is requested as a claim or counterclaim: The minimum filing …
Will old investor complaints have to be disclosed after the SEC’s Reg BI takes effect?
Will investment advisors with customer disputes over ten years old have to disclose them on their Form ADV under the new SEC Regulation Best Interest Rule that’s taking effect after June 30, 2020? The short answer is, yes. Advisors will be required to disclose these old investor complaints on their ADV Part 3.
FINRA Is Jacking Up The Cost Of Expungement For Brokers
Proposed rule changes in front of the SEC exponentially increase the minimum fees for FINRA disclosure expungement from $50 to $1,575. So, a typical expungement case would ultimately jump from $768 to well over $10,000. As we previously warned, on February 7, 2020, FINRA issued a Rule Filing Status Report (SR-FINRA-2020-005). The 219-page status report provides some insight into the …
A Stacked Deck: Inside the 2019 FINRA New Customer Dispute Expungement Process
The House always wins. FINRA has filed rule changes to strip financial advisors of a critical right. News that expungement of qualified customer disputes was under fire from the regulators first became known on December 6, 2017; when FINRA published Regulatory Notice 17-42. Since then, the industry has been anxiously waiting for the FINRA Board of Governors to tell the industry precisely …
Which Firm Handles the Most FINRA Expungement Cases Filed by Financial Advisors?
We don’t expect you to keep your finger on the pulse of the advisor-defense industry. So let us quickly bring you up to speed on the most crucial element that advisors seek when it comes to FINRA expungement of customer dispute and U5 termination disclosures–RESULTS. AdvisorLaw just surpassed its 1,000th disclosure expunged from FINRA’s BrokerCheck and the CRD. Every single disclosure was …
PIABA Foundation “Study” of Problems with FINRA Expungement Process Devolves Into Unhinged Manifesto
PIABA, the group of investor-attorneys that are beloved by all financial advisors, have had their Foundation release a “study” ripping the current expungement process to shreds. Yes, the same niche of investor-attorneys known for their billboards along the highway trying to Jedi Mind Trick the next elderly investor into manufacturing frivolous allegations, have gotten self-righteous. Since we are the only firm exclusively representing …
What if Compliance Accuses You of a Firm Policy Violation?
On Wednesday, while on vacation, an advisor got a call from his broker-dealer’s compliance department. It was from a young woman who was fairly new to the compliance team. She accused him of altering client-signed documents and cutting and pasting a client signature. In essence, the financial advisor was being accused of fraud.
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