Author Archive: Jon-Jorge Aras

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How Do You Request Expungement if the Parties Settle the Arbitration?

By Jon-Jorge Aras / January 6, 2023
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Requesting Expungement in a FINRA Settlement Arbitration In the highly competitive financial world, any organization, manager, or owner must ensure that your business’s Central Registration Depository (CRD) doesn’t have negative customer complaints. If you are looking for FINRA settlement solutions, keep reading. Public investors often consult CRD through FINRA BrokerCheck before making investment decisions. The…

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What Happens After You Submit a FINRA Expungement Waiver Request?

By Jon-Jorge Aras / December 7, 2022
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If you have an inaccurate or defamatory customer dispute on your firm’s FINRA Central Registration Depository (CRD) record, you can ask the agency for expungement. But what happens after you submit a FINRA expungement waiver request? Under FINRA’s policies, expungement is an “extraordinary remedy” that’s appropriate in only limited cases. In order to successfully win…

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SEC Charges Kim Kardashian in Crypto Case

By Jon-Jorge Aras / October 4, 2022
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Jon-Jorge Aras Discusses What Crypto Investors Can Learn From This Case Kim Kardashian will pay over $1 million to the SEC for unlawfully promoting a crypto asset security offered and sold by EthereumMax without disclosing her payment. The SEC’s order finds that Kardashian failed to disclose to the public that she was paid $250,000 to…

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Confirmation of an Expungement Reward

Is It Necessary Under Rule 2080 to Obtain Court Confirmation of an Expungement Award?

By Jon-Jorge Aras / September 26, 2022
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Simply put, the answer is yes. FINRA Rule 2080 (“Rule 2080”) is complex and must be followed properly to obtain expungement of a customer complaint from an individual’s BrokerCheck report Rule 2080 requires that a court of competent jurisdiction (state or federal court) confirm an expungement award before FINRA will remove a customer complaint from…

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Insider Trading on Capitol Hill

By Jon-Jorge Aras / August 23, 2022
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America’s distrust in the U.S. government and its lawmakers is at an all-time low. While there is not a single reason for this pervasive skepticism, the daily scandals and controversies that emerge from Congress are probably a good start. One glaring example occurred in the wake of the COVID-19 pandemic when numerous members of Congress…

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Investors Beware of Fraudulent Crypto Apps

By Jon-Jorge Aras / July 26, 2022
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The FBI has recently released a PSA warning cryptocurrency investors and financial institutions of fraudulent cryptocurrency investment apps. Cybercriminals often lure investors by claiming to offer legitimate investment platforms and ultimately convincing the victim to download fraudulent apps. Between December 2021 and May 2022, cybercriminals defrauded at least 28 investors of more than $3.7 million,…

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FINRA’s Financial Report: What Brokers Should Know

By Jon-Jorge Aras / July 6, 2022
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FINRA released its 2021 Annual Financial Report, which details the regulator’s finances and enforcement program. FINRA’s enforcement reported $103 million in fines, $47 million in restitution to harmed investors, 1 firm was expelled, 386 brokers were suspended, and 269 brokers were barred. Significantly, FINRA made 2,390 referrals to state, federal, and international regulations. Jon-Jorge Aras,…

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Cryptocurrency Regulations Are Making Progress

By Jon-Jorge Aras / June 29, 2022
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The battle for crypto regulations is making progress, especially after Gary Gensler, SEC Chairman said cryptocurrency should be co-regulated by both the SEC and the CFTC. “Together, the agencies can assure market integrity,” stated Gensler. Gensler proposed a ‘one rule book’ that protects trading regardless of whether the pairing is a security or a commodity.…

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Jon-Jorge Aras Gives Insight on SEC’s Meme Stock Warning Video

By Jon-Jorge Aras / June 6, 2022
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The SEC’s attack on meme stocks is far from over — the agency has released a video warning investors of meme stocks, with a message intended to educate investors on responsible trading. The YouTube video has left many investors feeling that the SEC does not have their best interest in mind. Many profited off of…

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