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Expungement Week 2020

Over the last five years, Doc Kennedy and AdvisorLaw have been dubbed the “800-pound gorilla” when it comes to FINRA arbitration cases. That reputation has been earned by absolutely dominating the FINRA arbitration landscape. ​Maybe it’s the quarantines, the lockdowns, or the imminent FINRA arbitration fee increases, but the gorilla is eager to help this year. Doc has decided to give back …

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FINRA Is Jacking Up The Cost Of Expungement For Brokers

Proposed rule changes in front of the SEC exponentially increase the minimum fees for FINRA disclosure expungement from $50 to $1,575. So, a typical expungement case would ultimately jump from $768 to well over $10,000. As we previously warned, on February 7, 2020, FINRA issued a Rule Filing Status Report (SR-FINRA-2020-005). The 219-page status report provides some insight into the …

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FINRA’s Goal: Investor Protection?

When you click on the “About FINRA” hyperlink located at the very top of FINRA’s website, the first sentence you will see is:

“FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of broker-dealers.”

In fact, you will see the words “investor protection” countless times on FINRA’s website and throughout its regulatory notices and guides. The names below are changed but the very true case you are about to read really begs the question of to what, exactly, FINRA is “dedicated.”

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Colorado Court Shuts Down FINRA Over Expungement Confirmation

Original Article: brokeandbroker.com/3981/finra-confirmation-expungement/ You ever go to a meeting where it seemed that everyone showed up on time, they started the presentations at the designated hour, and then, just as things began to roll, some idiot executive walks in late? Can someone please get me a cup of coffee, two sugars, a little milk, and, if there’s a warm cheese danish …

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FINRA’s Focus on Advisors With Customer Disputes

We’ve known for some time that FINRA ranks their brokers based upon negative disclosures on their Form U4 and CRD.  However, that information has never been released to the public en masse due to instances where many non-adjudicated claims have never actually proven a sales-practice violation by the advisor.   A firm that represents customers in drumming up these investor complaints, …

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AdvisorLaw wins against FINRA in the case of A.G. Edwards & Sons, Inc. Feb 17, 2017

Award FINRA Office of Dispute Resolution In the Matter of the Arbitration Between:   Claimant  Case Number:           vs. Respondent A.G. Edwards & Sons, Inc.    Hearing Site: Denver, Colorado Nature of the Dispute: Associated Person vs. Member  REPRESENTATION OF PARTIES For Claimant  (“Claimant”):  AdvisorLaw, Broomfield, Colorado.  For Respondent A.G. Edwards & Sons, Inc. (“Respondent”): Thomas Octavian Jacobs, Esq., Wells Fargo Law Department, San Francisco, …

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How to Save Your Reputation After a Meritless Customer Complaint

Original Article: wealthmanagement.com/marketing/how-save-your-reputation-after-meritless-customer-complaint Many wealth managers have spent years, if not decades, of their lives crafting a distinguished image of their practice. Words like “planning,” “trust,” “experience,” “service” and “satisfaction” consume the landscape of a financial advisor’s marketing message. Over their tenure, an advisor’s “brand” can develop significant equity. This equity, embodied through their personal and business reputation, pays dividends …