We’ve all been there: A new and better opportunity presents itself, we’re looking to move up in our careers, or we’re just sick of working for Susan, a hapless manager who is a terrible person on all counts. Regardless of why we pursue newer and better options, it’s essential to act strategically, know your rights, and have a career transition plan in place.
Southern-California Advisor Wins Expungement Of Internal Review Disclosure
In 2015, about 11 years into his career in financial services, this Southern-California-based advisor resigned from his broker-dealer firm and was subsequently sued by the firm. The firm then published an internal investigation Form U5 disclosure on the advisor’s records. Seeking to remove the disclosure of the event from his otherwise spotless records, the advisor hired HLBS Law to bring him through FINRA’s Dispute Resolution process.
Navigating FINRA E-Signature Violations
In recent months, a significant number of individuals have found themselves with Form U5 terminations or under Financial Industry Regulatory Authority (FINRA) Rule 8210 inquiries or investigations for alleged violations related to electronic document signatures. It appears that FINRA is intensifying its crackdown on this issue, making it crucial for financial advisors to stay informed and compliant. This article delves into the current FINRA enforcement environment surrounding e-signatures and the potential implications for registered representatives, particularly in the context of Form U5 termination filings and FINRA 8210 inquiries and investigations.
Denver Advisor Clears Records Of Termination Disclosure
A previously-registered broker and current investment advisor in Denver had been in the industry since 2012. She had a perfect BrokerCheck record, aside from a 2017 Form U5 termination disclosure stating that she had been discharged following allegations that she had copied a client’s signature from one form to another when processing a form for the client. Seeking to restore her perfect record, the advisor hired AdvisorLaw to represent her in FINRA Arbitration.
Dallas Advisor Wins Expungement Defamatory Termination
About halfway through a near-40-year career in the industry, a Texas-based advisor was hit with a Form U5 termination disclosure alleging that he had reallocated a customer’s subaccounts without authorization. He lived with the stain on his records for almost two decades before he’d had enough. Finally, he decided to try to get the disclosure expunged through FINRA Dispute Resolution with the help of AdvisorLaw.
Daytona Beach Advisor Removes Termination Disclosures
Fifteen years into his career as a financial advisor, this registered rep received a FINRA Form U5 termination disclosure from his firm for allegedly failing to inform the firm of a customer arbitration in a timely manner. To make matters harsher for the advisor, the firm filed not one, but two, Forms U5, and the advisor ended up with two separate disclosures on his record. He hired HLBS Law to seek expungement of the disclosures through FINRA Dispute Resolution.