FINRA Encouraged to Take Remedial Action to Correct Broker’s CRD Record

The claimant broker requested expungement of two customer complaints from his CRD record. In an explained decision, the FINRA Panel denied the claimant broker’s request, finding that more than six years had elapsed from the occurrence giving rise to the claim, even though the Panel determined that disclosure of the same customer dispute appears twice on the claimant broker’s Form U-4. However, in the interest of justice and an accurately informed public, the Panel recommended that FINRA take appropriate remedial action to correct the clearly erroneous duplication. 

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