Finra Takes Measured Approach Toward Expungement Limitations

October 9, 2019

Financial Advisor Magazine

David I. Hantman
Joel M. Everest


In December 2017, Finra announced plans for a major overhaul of the expungement process in its Notice to Members 17-42. The proposal included a number of changes, most of which were designed to make it more difficult and expensive for financial professionals to seek expungement. Most significantly, the changes included a one-year time limit for any expungement request, a heightened standard for granting expungement, increased fees, and the requirement of a unanimous decision by three arbitrators.

Recently, Finra finally offered some insight into what will happen next.

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