FINRA recently announced that it will revise its training for arbitrators to ensure they are upholding its standards for expungement of advisor complaints from the Central Registration Depository. The move came on the heels of criticism from both the public and investor arbitration attorneys.

A May article in the New York Times criticized the rate of expungement of advisor records, while an unflattering October survey showed how arbitrators granted advisors' request for expungement in 90% of the cases in which it was requested during settlement talks with plaintiffs. The survey was conducted and published by the Public Investors Arbitration Bar Association, an industry trade group of attorneys representing investors in arbitration.

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