SEC Says No Second Bite of FINRA Expungement Apple (BrokeAndBroker.com Blog)
Bill Singer
![Bill Singer]()
Bill Singer
A critic of the inept and incompetent, and an advocate for economic and political sanity. It's a lonely journey but I walk it. Wall Street legal, regulatory, and compliance veteran since 1982.
https://www.brokeandbroker.com/7034/finra-sec-pearce-expungement/
FINRA's expungement process is a flawed mess. Scraping customer complaints and allegations of employment-related misconduct from public, published records often impedes public investors engaged in due diligence before opening brokerage accounts. Similarly, FINRA's expungement process is often too expensive and too prolonged for associated persons who have truly been victimized by false allegations. A recent FINRA expungement matter took four years to work its way on appeal to the SEC. That's a disservice to the public and the industry.?