SEC OKs FINRA Rule on Expungement of Broker Black Marks
The rule “helps to reduce FINRA’s lack of transparency about a broker’s complaint history,” said investor lawyer Jason Doss.
FINRA’s BrokerCheck ‘Hides’ Criminal Records, Has Other Holes, Study Says
PIABA study says extent of omitted “red flag” information is “so serious that unwitting investors” could hire brokers with criminal records.
‘Alarming’ Number of Broker Arbitration Records Wiped Clean: Study
A study of more than 1,600 arbitration cases over the past five years shows an “alarmingly high” rate of brokers who were able to get their arbitration histories wiped clean, according to a report released in mid-October by the Public Investors Arbitration Bar Association (PIABA).
‘Alarming’ Number of Brokers’ Arb Records Wiped Clean: Study
An author of the study by PIABA, a legal group, says that this a "major investor protection problem."