A Portland-based advisor with a Form U5 termination disclosure from more than two decades earlier sought FINRA expungement of the mark from his CRD and BrokerCheck records. Eighteen months into his financial services career, a dually-registered advisor considered moving on from his first broker-dealer and RIA, after the BD firm repeatedly missed payroll. He resigned and joined a new BD. About two months later, due to a dispute between the former BD and RIA involving a canceled contract with a life insurance company, an investigation was launched over allegations that the advisor’s former supervisor and his employees had improperly shared commissions.
Advisor Back In Action With A Clean Record After Termination
A 12-year veteran advisor in Boston spent the past three years unable to secure employment in the financial services industry due to a Form U5 termination disclosure. The firm published allegations that the advisor had been discharged for purportedly being inappropriately paid under the firm’s computer and exercise purchase assistance and reimbursement programs — despite the fact that he had properly adhered to all of the programs’ requirements. The firm has been known to regularly terminate advisors, citing similar allegations.
Disclosure Expungement New
Home→Blog BrokerCheck & IAPD Expungement Services The Internet makes it easy for prospective investors to learn about financial advisors’ employment history, as well as investor complaints, terminations, and regulatory violations. Schedule Consultation Learn More About Our Team Home→Blog Is your career suffering from unfair allegations of wrongdoing? You’re not alone. Investor complaints, regulatory investigations, and firm terminations can cost you …
E-Signatures: From Convenience To Compliance Minefield
Digital signatures have revolutionized the financial industry — streamlining processes and improving convenience. But with convenience comes risk, and the Financial Industry Regulatory Authority (FINRA) continues to sound the alarm on e-signature violations.
Understanding Common FINRA Violations
In the financial landscape, where trust and integrity are of paramount importance, regulatory entities like the Financial Industry Regulatory Authority (FINRA) are granted oversight for the purported purposes of maintaining industry integrity and investor protection. FINRA, established as an independent organization by Congress, formulates and enforces rules that govern registered brokers and broker-dealer firms. While these regulations profess to ensure fair treatment for investors while safeguarding their interests, they are all too often employed and weaponized against brokers. Having an understanding FINRA’s regulations is crucial to staying out of its crosshairs.
Illinois Advisor Wins Expungement Of 2016 Termination Disclosure
This financial advisor out of Illinois had one termination disclosure on his records over a 35-year career in the industry. Seeking to move forward free of the negative mark, he hired AdvisorLaw to seek expungement of the disclosure through FINRA Dispute Resolution.