Author Archive: Christopher D. Warren

Global Pandemic or Not, Regulation BI is Here – Here Is FINRA’s Guidance

By Christopher D. Warren / July 10, 2020
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Despite the devastating effects of the Covid-19 pandemic on the country and the economy, on June 30, 2020, the United States Securities and Exchange Commission (“SEC”) chose to move forward and implement Regulation Best Interest (“Reg BI”), under the Securities Exchange Act of 1934. Shortly, thereafter, the Financial Industry Regulatory Authority (“FINRA”) issued its own…

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FINRA Rule 2080: Expungement Changes Coming this Month

By Christopher D. Warren / June 30, 2020
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The rules around expungement for financial services professionals are changing this month. While this might sound like a bureaucratic change to legal procedure, its implications for personal securities industry reports should grab the attention of any financial services professional. This is because the effects of these changes will make it more difficult to remove information…

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Finra Seeks Higher Expungement Fees by Closing $1-Claim Loophole

By Christopher D. Warren / June 19, 2020
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The Financial Industry Regulatory Authority wants to eliminate a loophole that slashes the fees firms and brokers pay when seeking to expunge customer complaints from brokers’ regulatory records. In a filing to the Securities and Exchange Commission on Friday, Finra proposed amending its arbitration codes so that brokers or their firms will pay at least…

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Notice of Filing of a Proposed Rule Change to Amend the FINRA Code of Arbitration Procedure

By Christopher D. Warren / June 19, 2020
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Notice of Filing of a Proposed Rule Change to Amend the FINRA Code of Arbitration Procedure for Customer Disputes and the FINRA Code of Arbitration Procedure for Industry Disputes to Apply Minimum Fees to Requests for Expungement of Customer Dispute Information Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and…

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