Firms are required by FINRA to report all complaints regardless of merit which are then disclosed on a financial advisor’s public CRD.  If the information reported is false or inaccurate, you may be able to have the complaint expunged from your CRD record.

FINRA Rule 2080 provides specific guidelines for expunging a customer complaint:

  • the claim, allegation or information is factually impossible or clearly erroneous;
  • the registered person was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation or conversion of funds; or
  • the claim, allegation or information is false.

The Attorneys at Stein & Stein have successfully handled hundreds of expungements on behalf of financial advisor.