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Gregory Tendrich, PA Gregory Tendrich, PA

Florida Customer Dispute Expungement Lawyer

Gregory Tendrich Represents Florida Securities Brokers and Financial Advisors in Customer Dispute Expungement Cases 

The Financial Industry Regulatory Authority (FINRA) has put into place a series of regulations and dispute resolution processes that are designed to ensure that investors receive the greatest possible amount of information. Through the CRD Disclosure System, anyone who cared to ask could pull up every complaint—warranted or not—every wrongdoing, and every allegation that has been raised against a broker or financial advisor.

Through FINRA’s free BrokerCheck, all of this information is available to anyone who has an internet connection and is willing to put in the effort to make a few clicks of the mouse. The benefits of maximum ‘transparency’ are clear, but there are drawbacks as well. No one — investors or brokers — is made better off when false or misleading customer complaints are reported.

We Help Brokers/Financial Advisors Remove Illegitimate Customer Complaints

A disgruntled investor has the ability to file a FINRA arbitration against a broker. Even if the claim is baseless, the disclosure of the filing itself has the potential to damage the reputation of a financial professional. Florida customer dispute expungement lawyer Gregory Tendrich helps brokers and financial advisors clear their name and clean up their record. If a wrongful customer complaint was filed against you, please do not hesitate to contact our legal team. We can help you take action to seek expungement.

What are the Grounds for Expungement of an Investor Complaint?

No matter how frivolous a complaint against you may seem, there are certain procedures you must follow in order to have a record expunged. Part of said procedures includes determining grounds for expungement. According to the FINRA Rule 2080, grounds for expungement relief include the following:

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

Understanding the Expungement Process

In accordance with the FINRA’s Code of Arbitration Procedure, individuals or entities who wish to obtain an expungement must follow very specific processes for doing so. The process commencing with the filing of an arbitration claim against the firm (known in the proceeding as the “Respondent”) that filed the disclosure on your record. Moreover, the “Respondent” is required to attend the hearing, and the customer behind the allegation you seek to expunge will be informed of the expungement proceeding but is not required to attend the hearing.

Hearings involving requests for expungement are held according to the following procedures:

  • The panel must first hold a recorded hearing session regarding the appropriateness of expungement;
  • In cases that involve settlements, the panel must review settlement documents, payment amounts, and the terms and conditions of the settlement;
  • The panel must indicate which, if any, grounds for expungement apply to the situation at hand and provide a brief explanation for how said grounds apply; and
  • The panel will then assess all forum fees and collect said fees from the parties requesting expungement.

The Types of Expungement Cases We Deal With

At the office of Gregory Tendrich, P.A., our legal team handles the full range of financial advisor/brokerage firm expungement claims. Regardless of the specific facts of your case, we are prepared to conduct a comprehensive review of your situation and we can help you understand all of your available options. Among other cases, we have experience with:

  • Customer Dispute Expungement: A customer dispute disclosure can be expunged through FINRA’s Rule 2080 arbitration process. Our in-house lawyers are well-versed in the process of obtaining an order of expungement to remove these meritless disclosures from BrokerCheck and the CRD (U4 and U5) as if they never happened.
  • U5 Termination Expungement: With ever-changing B/D acquisitions, regulatory roadblocks, and changing product lines, advisors are sometimes left with little choice but to transition in order to satisfy the investment needs of their clients. Despite the clear benefits to both the advisor and the investor, transitioning to a new firm with even a single U5 termination Employment Separation After Allegation (ESAA) has become increasingly difficult. In addition, the amount of compensation given to transitioning advisors is typically scaled back as a result of the ESAA disclosure.
  • Bankruptcy/Tax Lien Expungement: Few financial disclosures may affect a financial professional more than one regarding an outstanding debt. Of course, debts can arise for any number of innocent reasons, including but not limited to unforeseen medical expenses, family situations, and other circumstances that are beyond your control. However, all a potential investor or employer will see is that you have a massive debt against you. If you have questions about bankruptcy/tax lien expungement, our legal team is standing by, ready to help. 

Contact Our Florida Financial Advisor/Broker Expungement Lawyer Today

At the office of Gregory Tendrich, P.A., we have a deep understanding of the expungement rules and regulations that govern the securities industry. Our law firm is well equipped to handle expungement case. To find out more about what we can do for you, please do not hesitate to contact us to request a fully confidential legal consultation.

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