Updated Wednesday, September 2, 2015 as of 5:48 PM ET

Senators Question FINRA Broker Records Removal

Lawmakers this week called on FINRA to explain its policies for expunging investor complaints about brokers from the public record, suggesting that the industry regulator should revisit the extent to which information is removed from the BrokerCheck database.

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Comments (1)
As noted by FINRA previously - these expungements were granted based on requests and do NOT include all cases. In fact these requests represent less than 5% of complaints filed. Can you imagine that ONLY 5% of complaints are fivilous? Our Congress and the SEC have bigger fish to fry than to prevent the appropriate expungement of frivilous cases from the records of righteous industry professionals.
Posted by Doug S | Friday, December 20 2013 at 1:54PM ET
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