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Regulation and Compliance > Federal Regulation > FINRA

FINRA seeks to block deletion of investor complaints against brokers

By Ted Knutson

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The Financial Industry Regulatory Authority has disclosed it is working on a rule to bar the deletion of an investor’s complaint against a broker in the public records as a condition for a settlement between a complaining investor and a broker.

A letter from FINRA Chairman and CEO Richard Ketchum, which made that statement and included a commitment to work with state securities regulators and other stakeholders to review the complaint expungement process, was released by Senators Charles Grassley (R-IA) and Jack Reed (D-RI) on Friday.

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