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A Stacked Deck: Inside the 2019 FINRA New Customer Dispute Expungement Process

The House always wins. FINRA has filed rule changes to strip financial advisors of a critical right. News that expungement of qualified customer disputes was under fire from the regulators first became known on December 6, 2017; when FINRA published Regulatory Notice 17-42. Since then, the industry has been anxiously waiting for the FINRA Board of Governors to tell the industry precisely …

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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.”