Principal David Hantman was mentioned in a Law360 Article titled "Investor Group Pans FINRA Broker Expungement Proceedings".
Brokers and brokerages seeking to erase investor complaints from their records through Financial Industry Regulatory Authority arbitration proceedings have been working with their law firms to pick the arbitrators most likely to grant their requests, an investor advocacy group said Tuesday.
The three arbitrators that law firms including AdvisorLaw LLC and Bressler Amery & Ross PCpicked most often in 1,078 of the proceedings between 2015 and 2018 granted expungement more than 95% of the time, according to a report by the PIABA Foundation. Brokerage firms have little incentive to oppose the brokers’ expungement proceedings against them, paving the way for the brokers to unilaterally choose arbitrators who will rule in their favor, according to the report.
This article first appeared on the Law360 website on October 15, 2019.To read the full article, click here.