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Favorable Arbitration Award in FINRA Expungement Case

Obtained a favorable arbitration award from a FINRA panel directing expungement of a customer complaint from the client's Central Registration Depository (CRD) records. Recent FINRA guidance has stated that expungement of a customer complaint from a broker's publicly available CRD record is an "extraordinary remedy" only warranted when it meets the elevated standard of having "no meaningful investor protection or regulatory value." The defense was able to convince the panel that the relief was warranted, due to the suitability of the underlying variable annuity purchase, and argument on the intent behind FINRA's reporting guidelines for customer complaints.

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