Looking for a CRD Expungement Attorney?
If you’re a financial professional with a customer dispute or employment disclosure on your record, it can have a significant impact on your career. Fortunately, FINRA offers a process called CRD Expungement that allows you to remove these disputes from your record. CRD Expungement (FINRA Expungement, BrokerCheck Expungement, U4 Expungement, U5 Expungement), is a critical tool for financial professionals looking to clear their records and protect their reputations. At Galvin Legal, we specialize in helping financial professionals navigate the complex process of CRD Expungement (BrokerCheck Expungement). Our experienced attorneys have a deep understanding of FINRA’s rules and procedures surrounding CRD Expungement (BrokerCheck Expungement). FINRA’s new expungement rules took effect on October 15, 2023.
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What is CRD Expungement?
Why Seek CRD Expungement?
Types of Disclosures That Can Be Expunged
How to Obtain CRD Expungement
U4 vs. U5 Expungement
Why Choose Galvin Legal for Your CRD Expungement Case?
Request a Free Consultation with a FINRA CRD Expungement Attorney
External Resources
Advocacy
Cases
Updates
What is CRD Expungement?
The Central Registration Depository (CRD) is a database maintained by FINRA that contains information about registered representatives and financial firms. BrokerCheck Expungement is the process of removing customer dispute or employment termination disclosures from your CRD record. This includes any allegations of misconduct, complaints, or arbitration claims made against you by customers or firms. By removing this information from your record through BrokerCheck Expungement, you can improve your professional reputation and increase your chances of success in the financial industry. CRD Expungement is a complex process, but with the help of an experienced attorney, you can navigate the rules and procedures, and achieve a successful outcome.
How to Obtain CRD Expungement
Obtaining a CRD Expungement is a complex process that requires navigating FINRA’s rules and procedures. Under FINRA Rule 2080, there are three grounds for obtaining expungement:
- The claim, allegation, or information is factually impossible or clearly erroneous;
- The registered person was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation, or conversion of funds; or
- The claim, allegation, or information is false.
To obtain expungement, you must first file a Statement of Claim with FINRA Dispute Resolution. Under FINRA Rule 13805, there are strict time limits for filing a claim for expungement. For customer dispute disclosures, you must file your claim within two or three years, depending on when the disclosure was made. If you are grandfathered in prior to the new rules coming into effect in October 2023, you have two years from that date to file. The six-year eligibility rule also applies to grandfathered claims but is separate from the new strict time limits.
Once the claim is filed, it will be heard by a panel of arbitrators who will decide whether to grant expungement. Under FINRA Rule 13805, the arbitrators must hold a recorded hearing session by telephone or in person and review settlement documents and consider the amount of payments made to any party and any other terms and conditions of the settlement. The arbitrators must also consider the expungement request and make a determination based on one or more of the grounds set forth in Rule 2080. Seeking expungement can be a challenging process, but with the help of an experienced expungement attorney, you can navigate the rules and procedures and achieve a successful outcome.
Why Seek CRD Expungement?
There are many reasons why financial professionals seek BrokerCheck Expungement. Some of the most common include:
- Improving job prospects: Many employers in the financial industry conduct background checks that include a review of your CRD record. By removing customer dispute and employment termination disclosures from your record through CRD Expungement, you can make yourself a more attractive candidate for job opportunities. CRD Expungement can help you demonstrate to potential employers that you have a clean record and are committed to providing excellent service to your clients.
- Increasing client confidence: Clients may be hesitant to work with a financial professional who has a history of customer dispute or employment termination disclosures. By obtaining a CRD Expungement, you can demonstrate to clients that you have a clean record and are committed to providing excellent service. CRD Expungement can help you build trust with your clients and establish long-lasting relationships.
- Protecting your reputation: Even if a customer dispute or employment termination disclosure is unfounded or meritless, it can still damage your professional reputation. CRD Expungement allows you to protect your reputation by removing these items from your record. By seeking a CRD Expungement, you can take control of your professional reputation and ensure that it accurately reflects your skills and experience.
Types of Disclosures That Can Be Expunged
There are several types of disclosures that can be expunged from your CRD record through the process of a U4 Expungement or U5 Expungement, including:
- Customer Dispute Disclosures: Customer dispute disclosures on your Form U4 or U5 can be expunged through the CRD Expungement process. These disclosures include any allegations of misconduct, complaints, or arbitration claims made against you by customers. By seeking CRD Expungement of these disclosures, you can remove them from your record and improve your professional reputation.
- Reason for Termination and Explanation: If you have been terminated from a previous employer and the reason for your termination is disclosed on your Form U5, you may be able to seek CRD Expungement of this disclosure. By amending the reason for your termination and/or explanation from your record through CRD Expungement, you can present a more positive image to potential employers and clients.
It’s important to note that not all disclosures are eligible for expungement. FINRA has strict rules and guidelines governing which types of disclosures can be removed from your record through the process of CRD Expungement. An experienced CRD Expungement attorney can help you determine which disclosures on your record may be eligible for CRD Expungement and guide you through the process of seeking CRD Expungement.
U4 vs. U5 Disclosures
U4 and U5 disclosures are two different types of disclosures that can appear on your CRD record. A U4 disclosure is made when you are hired by a new firm and disclose any past customer disputes or other issues, or to amend a previously filed U4 while still employed by the firm. A U5 disclosure is made when you leave a firm and the firm discloses any issues that arose during your employment. Both U4 and U5 disclosures can have a significant impact on your career, and seeking a U4 Expungement or a U5 Expungement of these disclosures through the U4 Expungement / U5 Expungement process can be crucial to protecting your reputation and future job prospects.
Why Choose Galvin Legal for Your CRD Expungement Case?
At Galvin Legal, we have extensive experience representing financial professionals in CRD expungement cases. We understand the complex rules and procedures involved in obtaining expungement, and we work tirelessly to help our clients clear their records and protect their reputations. Our team of experienced CRD Expungement attorneys has a deep understanding of FINRA’s rules and procedures surrounding CRD Expungement, and we have a proven track record of success in helping our clients achieve their goals.
Our team of experienced attorneys will guide you through every step of the expungement process, from filing your Statement of Claim to representing you at the arbitration hearing. We will work with you to gather all necessary evidence and testimony to support your case and present a compelling argument to the arbitrators. With our help, you can navigate the complex process of CRD Expungement and achieve a successful outcome.
Request a Free Consultation with a FINRA CRD Expungement Attorney
If you’re a financial professional seeking CRD Expungement, BrokerCheck Expungement, or the removal of U4 or U5 disclosures, contact Galvin Legal today. We offer free consultations and will work with you to develop a strategy tailored to your unique needs and goals. Don’t let a customer dispute or disclosure hold you back – let us help you clear your record and move forward with your career. Our experienced CRD Expungement attorneys are here to help you navigate the complex process of CRD Expungement and achieve a successful outcome. Request a free consultation or call 1-800-405-5117 to speak with a FINRA Expungement Attorney now.
External Resources:
FINRA Rule 2080
FINRA Rule 13805
FINRA Expungement of Dispute Information
FINRA Rule 2080 FAQs
FINRA Expungement Rules FAQs
These external resources provide valuable information about the CRD Expungement process and FINRA’s rules and procedures surrounding CRD Expungement. By reviewing these resources and working with an experienced CRD Expungement attorney, you can gain a better understanding of the CRD Expungement process and take the necessary steps to protect your professional reputation.
If you have unfair disclosure items on your FINRA BrokerCheck Report, then request a free consultation or call 1-800-405-5117 to speak with a FINRA U4 Expungement Attorney now.
Advocacy
James P. Galvin, Esq. is an active advocate for the rights of registered representatives. Below are comment letters submitted during the public comment periods for FINRA proposed rule changes that affect registered representatives and their rights.
SR-FINRA-2022-024 Comment Letters
- James P. Galvin’s Second Comment Letter to FINRA’s Proposed Expungement Rule Changes – SR-FINRA-2022-024
- James P. Galvin’s Comment Letter to FINRA’s Proposed Expungement Rule Changes – SR-FINRA-2022-024
These comment letters demonstrate our commitment to advocating for the rights of registered representatives and ensuring that FINRA’s rules and procedures surrounding CRD Expungement are fair and reasonable. By staying up-to-date on the latest developments in FINRA’s rules and procedures and actively participating in the rule-making process, we are able to provide our clients with the most effective representation in their CRD Expungement cases.
Cases
24-xxxxx Joseph C Bowden vs. Merrly Lynch, Pierce, Fenner & Smith Incorporated
23-01097 Joao Carlos Bastos vs. Citigroup Global Markets, Inc.
22-01797 Mary Turner Moose vs. Cetera Advisors LLC
23-03564 Mark Allen Barrand vs. Cetera Advisors LLC and Ameriprise Financial Services, LLC
23-02674 Kevin Kingsley Tamlyn vs. UBS Financial Services Inc. and Merrill Lynch Pierce Fenner & Smith Inc.
23-02835 Michael J Bristoll vs. Vanguard Marketing Corporation
23-02722 Sneha Neela Mahajan vs. UBS Financial Services Inc.
23-03002 Francis John Lojewski, Jr. vs. Nationwide Securities LLC
23-03040 Michael Kenneth Depasquale vs. Nationwide Securities, LLC and M Holdings Securities, Inc.
23-02975 David Joseph Scranton vs. Park Avenue Securities LLC
23-02772 Inderpal Singh Anand vs. Ameriprise Financial Services, LLC
23-01956 Michael Lee Escobar vs. Sagepoint Financial, Inc.
23-01913 Michael Thomas Dieschbourg vs. UBS Financial Services Inc.
23-00184 Todd Christian Smith vs. LPL Financial LLC and Citigroup Global Markets, Inc.
23-00505 David Butler Wentz vs. Ameritas Investment Company, LLC
23-01257 Andrew Jason Schroeder vs. Cetera Advisors LLC
23-01261 William Eugene Groves vs. Morgan Stanley
23-01274 David Wilson McAdams vs. WFG Investments, Inc.
22-00657 Brent Walter Ure vs. Ameriprise Financial Services, Inc.
22-00507 Ayad Amary vs. TIAA-CREF Individual & Institutional Services, LLC
22-01400 Harold Reed Madison vs. Raymond James Financial Services, Inc.
22-01753 Don Michael Rudolph vs. LPL Financial LLC
22-02659 Changuttuvan Surendran vs. Continental Broker-Dealer Corp.
22-02320 Timothy Barnard Kneen vs. UBS Financial Services Inc.
22-02319 Timothy Barnard Kneen vs. UBS Financial Services Inc. and Citigroup Global Markets, Inc.
22-02675 Kristina Kimi Nichols vs. Merrill Lynch, Pierce, Fienner & Smith Incorporated
22-01788 Loizos Sergios Kapnisi vs. TIAA-CREF Individual & Institutional Services, LLC
22-02238 Joseph C Bowden vs. Merrly Lynch, Pierce, Fenner & Smith Incorporated
21-01912 Julie Smith Johnson vs. UBS Financial Services Inc. and Citigroup Global Markets, Inc.
21-01904 Robert George Funk vs. Merrill Lynch Pierce Fenner & Smith Inc.
21-01283 Anthony J. Riscili vs. Pruco Securities, LLC.
21-01154 Michael Fillers Bolen vs. Wells Fargo Clearing Services, LLC
21-01006 Virginia Frances Thompson vs. Janney Montgomery Scott LLC, Cetera Advisor Networks LLC, Stifel, Nicolaus & Company, Incorporated, UBS Financial Services Inc., and J.P. Turner & Company, LLC
21-00914 Virginia Frances Thompson vs. Janney Montgomery Scott LLC
20-04058 Thomas Roney Chaney vs. LPL Financial LLC
20-03958 Jonathan Sard vs. Purshe Kaplan Sterling Investments
20-03458 Sean Lewis Dobranich vs. Wells Fargo Clearing Services, LLC
20-02828 Nicholas Joseph Meyer vs. Charles Schwab & Co., Inc.
20-02265 Michael Joseph Marshall vs. Citigroup Global Markets, Inc.
20-02262 Gerald Marvin Hast vs. Pro-Integrity Securities, Inc.
20-02267 Michael Joseph Marshall vs. J.P. Morgan Securities, LLC
20-02212 Jacob Robert Goddard vs. Ameriprise Financial Services, Inc.
19-03294 Robert Wayne Warther vs. Securities America, Inc.
16-01866 David H. Miller vs. Ameriprise Financial Services, Inc.
These cases demonstrate our experience and success in representing financial professionals in CRD expungement cases. By reviewing these cases, you can gain a better understanding of the types of cases we handle an d the results we have achieved for our clients. If you are seeking CRD expungement, BrokerCheck expungement, or the removal of U4 or U5 disclosures, our experienced attorneys can help you navigate the complex process and achieve a successful outcome.
Updates
- TIME CRITICAL: New FINRA CRD BrokerCheck Expungement Rules – Time Restrictions, Three Arbitrator Panels, Unanimous Decisions, State Regulators Can Oppose, Etc.
- Regulatory Notice 21-09 – Broker Alert
- FINRA CRD Expungement Proposed Rule Change – Broker Alert
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities regulation and compliance law practice. For more information on Galvin Legal, PLLC, please visit www.galvinlegal.com or call 1-800-405-5117.
