Q: My firm and I were involved in an arbitration. In discussing settlement with the firm's attorney, I asked if they could get the customer to agree that the record of the complaint should be deleted from my CRD report. The attorney said that was prohibited. Can you shed some light on this? -V. F., Illinois
A: FINRA Rule 2081 became effective in July 2014. It states that "no member or associated person shall condition or seek to condition the settlement of a dispute with a customer on, or to otherwise compensate the customer for, the customer's agreement to consent to, or not to oppose, the member's or associated person's request to expunge such customer dispute information from the CRD system."
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