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Expungement Of Customer Complaint Crd Information Following Settlement Of A Finra Arbitration, Seth E. Lipner
Expungement Of Customer Complaint Crd Information Following Settlement Of A Finra Arbitration, Seth E. Lipner
seth e lipner
The Financial Industry Regulatory Association (“FINRA”) maintains a database of customer complaints about individuals licensed by FIRNA as registered representatives. The data can be accessed and used by both securities regulators and the investing public to find out about past complaints made by customers of the registered representatives. But records of customer complaints can be expunged from the database through an arbitration process created by FINRA. This Article traces the history of that arbitration process, focusing on how it is employed in cases where the investor was paid money to settle a claim. The Article studies FINRA arbitrations in such …