FINRA Criminal Expungement Award:

Financial Advisor Expunges Criminal Disclosure From FINRA's Central Registration Depository

 

FINRA Criminal Expungement Award:

Financial Advisor Expunges Criminal Disclosure From FINRA's Central Registration Depository

 

*If you're under FINRA or SEC investigation, or if you have a meritless disclosure on your BrokerCheck, CRD, or IARD/IAPD record, call us right now at (303) 952-4025 or contact us to talk with an attorney and receive a priority consultation at no charge.


Award Date: April 8, 2022
Claimant Representative: Tad Burton, J.D.


Case Objective:

A southern-based advisor sought to expunge one criminal disclosure from his public records with FINRA Registration.  


Case Summary:

In 2004, the advisor was pulled over by police and arrested for a DUI. In his booking records, the arresting officer also charged the advisor with possession of a controlled substance. When the advisor went to court, the DUI charge was dismissed, and there was no mention of a possession charge.

The advisor had no other criminal history and was able to successfully get the DUI expunged from his record in 2020. When the update was sent to FINRA for disclosure removal, it was able to see that there had also been a possession charge at the time of the arrest. FINRA said that the possession charge needed to be addressed by the court in order for the disclosure to be removed.



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Result:

AdvisorLaw’s Tad Burton, J.D. contacted the county sheriff and was able to find the charge on the advisor’s booking sheet. He simply sent the booking sheet and the DUI expungement order to the court and argued that the possession charge should be lumped in with the expungement order, as it had happened on the same date and was never addressed in court. The matter went before a judge, who ruled in favor of expungement of the possession charge.

Mr. Burton sent the ruling to FINRA with the disclosure removal request. In short order, FINRA responded with a confirmation letter, stating that it would remove the disclosure from the advisor’s CRD record.




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