U4 and U5 Expungement

 

Potential investors and employers can easily find negative CRD disclosures — disclosures can cost money and even careers

BrokerCheck and IAPD

The internet makes it easy for prospective investors to learn about financial advisors’ employment history, certification and licenses, as well as investor complaints, terminations, and regulatory violations. In fact, FINRA cited 40 million visitors to BrokerCheck just last year.

Because of the immediacy and ease of locating these negative disclosures on either BrokerCheck or the IAPD, individual advisors benefit considerably from expungement of a mark that is tarnishing their name and brand.

Pull a snapshot showing your own CRD disclosures here.


FINRA Disclosure Expungement

Since a landmark FINRA ruling in 2009, financial advisors may now seek to have nearly any investor complaint or U5 termination disclosure expunged through an arbitration forum overseen by FINRA.

Luckily, there are several means by which AdvisorLaw can clean up your BrokerCheck or IAPD and ensure that an advisor’s personal and professional reputation are accurately depicted to the public and industry observers.

AdvisorLaw handles the majority of all advisor-initiated FINRA expungement cases in the entire industry.

Chart of 2018 Expungement Cases

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Customer Dispute Expungement

A FINRA customer dispute disclosure listed on BrokerCheck, as well as many investor complaints listed on the IAPD, can be expunged through the FINRA Rule 2080 arbitration process. Our staff is well versed in the process of obtaining an order of expungement to remove these meritless FINRA investor complaints from BrokerCheck and the CRD (U4 and U5) as if they never happened.

Unauthorized Trading investor compliants, Failure to Supervise, Breach of Fiduciary Duty, Negligence, Suitability, Misrepresentation disclosures - these may all qualify to be cleared from the CRD and IARD records via FINRA Rule 2080 expungement.

​How much would losing even ONE prospective household cost you over the life span of the average account?​


U5 Termination Expungement

Transition is not necessarily the Best Response
With ever-changing B/D acquisitions, regulatory road blocks, and changing product lines, financial advisors sometimes feel the only choice is to transition to a new firm in order to satisfy the investment needs of their clients. ​

Despite the clear benefits to both the financial advisor and the investor, transitioning to a new brokerage firm with even a single U5 termination disclosure (Employment Separation After Allegation) has become increasingly difficult. In addition, the amount of compensation given to transitioning financial advisors is typically scaled back as a result of the ESAA disclosure.

Neither the former employer who filed the U5 termination disclosure nor your current employer may unilaterally clear your BrokerCheck and IAPD records. Full removal of an U5 termination must be granted by a FINRA arbitration panel.


Criminal Expungement

AdvisorLaw ensures that you have the best possible representation in state court in order to expunge criminal disclosures that show up on BrokerCheck or the IAPD. Rules vary widely between states, and not every one offers the ability to expunge old offenses. However, if available, you may qualify to have any record of past criminal offenses sealed or destroyed and subsequently removed from your CRD.

Tax Lien Expungement

Few disclosures may negatively affect a financial professional more than a disclosure denoting federal tax liens. Although these may often be caused by medical or family situations that are beyond the control of the financial advisor, investors will simply be unforgiving when it comes to massive tax debts. We have proven strategies that can resolve any back tax liabilities and have the tax lien disclosures expunged from the public record.


Previously Obtained Expungement Award

We come across many advisors who have previously secured an expungement award under FINRA Rule 2080 through another firm, yet they have not seen their record removed at the regulatory level. We handle so many FINRA disclosure expungement cases that regardless of where you are in the process, we can bring you across the finish line. AdvisorLaw can put you back on top!

Eliminate Inflammatory Web Postings

Searching any financial advisor’s name on the internet can uncover results that link to websites highlighting allegations made against that advisor. Those attorneys who republish negative and often inflammatory disclosure information obtained from BrokerCheck do so in order to encourage additional frivolous investor claims. We implement proven methods to eliminate these incendiary statements that alarm current and potential clients.
 

Contact us to discuss AdvisorLaw's Disclosure Expungement services.

The consultation is free, and our services were created exclusively for financial advisors
(303) 952-4025