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Florida Form U5 Lawyer

Florida Securities Lawyer Gregory Tendrich Represents Financial Advisors and FINRA Brokers in U5 Amendment and Expungement Cases

The U5 Form (Uniform Termination Notice for Securities Industry Regulation) is used to terminate the registration of an individual broker in a certain jurisdiction and/or with a specific self-regulatory organization. Firms are required to give a reason for terminating a registration and are required to file the Form U5 within 30 days of a termination.

Given the ability of the general public and current and future clients and employers to see this information through FINRA’s BrokerCheck system, it is critical that the language on the U5 as to the reason for termination is fair and accurate to you and the circumstances. If not, many current and future clients and even future employers may simply opt to work with another financial professional “just in case.” Moreover, depending on the wording on the U5, your registration at a new firm may be held up and delayed pending review by FINRA and state regulators.

Having an experienced Florida Form U5 lawyer on your side to review the U5 before it is filed is critical and can be the difference between getting hired and registered at a new firm or not.

Once a brokerage firm submits a Form U5 , the contents of the U5 become a permanent record. Typically, the contents of the Form U5 can be changed only through a FINRA arbitration proceeding or other claim. The securities attorney Gregory Tendrich, P.A. assists advisors in U5 amendment and expungement cases. These cases bring claims seeking an amendment (change) or expungement (removal) of inaccurate statements on the Form U5. Registered representatives and advisors may also have claims for money damages arising from a false or inaccurate Form U5.

Form U5 Defamation Claims

Sometimes, a securities firm or broker-dealer will report false, misleading, or defamatory information on a Form U5. A false U5 can damage a financial advisor’s reputation and affect his or her ability to find a job in the securities industry. Through a Form U5 defamation claim, financial advisors can seek to have the language on their Forms U5 changed or removed. Money damages may also be available.

Form U5 Expungement Attorney

An experienced Form U5 expungement lawyer can help protect your career in the securities industry. If your Form U5 is marked with false or inaccurate information, or if you CRD or Brokercheck contains older customer complaints that you believe are inaccurate, misleading or outright false, with the help of a Form U5 expungement lawyer you may be able to seek expungement (removal) of defamatory information from your Form U5, Form U4, CRD record or Brokercheck.

How to Get Information Expunged From Your Record

Laws and regulations surrounding the investment industry are designed to benefit investors and the general public. Information contained in a broker’s record (CRD) can only be expunged if it is misleading, defamatory, inaccurate, or erroneous. These limits are in place because the “information on the CRD system has important investor protection implications, provided it is complete and accurate.” Typically, an expungement action is filed in FINRA arbitration, a hearing is conducted before a panel of arbitrators and you are required to produce evidence establishing that the reported information is misleading, inaccurate, or erroneous in accordance with FINRA Rule 2080. If the arbitration panel issued an arbitration award in your favor, the award is then confirmed in court and the court will order FINRA to remove the language from your record.

Contact An Experienced Florida Form U5 Lawyer

Contact Gregory Tendrich, P.A. for a free initial consultation with an experienced securities and employment litigation lawyer. We represent financial advisors, registered representatives, investment advisors and securities brokers nationwide with assistance with their terminations and U5 reporting and with in Form U5 expungement claims, disciplinary investigations, employment disputes, promissory note demands and workouts and with assistance transitioning to another firm.

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Gregory Tendrich, PA
Gregory Tendrich, P.A. serves clients throughout Florida, including the cities of West Palm Beach, Palm Beach, Delray Beach, Boynton Beach, Boca Raton, Port St. Lucie, Lake Worth, Wellington, Riviera Beach, Palm Beach Gardens, Fort Pierce, Vero Beach, Hobe Sound, Jupiter Island, North Palm Beach, Lake Park, Lantana, Stuart, Palm City, Jensen Beach, Tequesta and Juno Beach and represents clients in Palm Beach County, Martin County, St. Lucie County, Indian River County and throughout Florida.

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