Restricted Expungement Processes Are On The Horizon

There are thousands of financial advisors across the US who have had their public image tarnished by a meritless or completely false disclosure that was published on their CRD, BrokerCheck, IARD, or IAPD records. Although advisors are currently allowed a chance at removing the marks, both the SEC and FINRA are increasing efforts to make it more and more difficult for advisors to obtain an expungement.

The new North American Securities Administrators Association (NASAA) president, Melanie Senter Lubin, recently promised to prioritize tightening the expungement process and contended that clearing disputes from brokers’ records should be an “extraordinary” occurrence that should only be granted in certain circumstances.

It’s time to read the writing on the wall

If you have a false, factually impossible, or clearly erroneous disclosure on your public record, do not wait — act now, as outside forces continue to work to limit and even eliminate your right to be heard.

AdvisorLaw has successfully expunged more than 1,900 disclosures from financial advisors’ CRD, BrokerCheck, IARD, and IAPD records. If you’re interested in having disclosure(s) removed from your record, give us a call. The consultation is always complimentary. 

Learn more about our Disclosure Expungement services.

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Doc Kennedy, MBA, J.D.