Emerging Views®

Martin LLP Obtains Expungements of Adverse Negative Public Reports for Brokers

December 2018 - Stockbrokers are required to be registered with FINRA and any complaint made by customers is made the subject of public disclosure to help current and potential clients make evaluations of brokers before any money is invested. It is, of course, the case that some complaints against brokers are not well-founded. FINRA has enacted rules to handle efforts by brokers to get adverse events expunged from the public record. Over the past several years, those rules have been tightened so that only complaints that are truly determined, after an evidentiary hearing is conducted, to be false can be the subject of a successful expungement application. In 2018, the Martin LLP Litigation Department was able to obtain expungements on all three of the applications it filed on behalf of brokers.

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