Do you have defamatory information on your FINRA Brokercheck report? Do you have a customer complaints, terminations, or incorrect information from prior employment that should be removed from your Form U4 or Form U5? Is that information impacting your ability to find another job in the securities or banking industry?
If so, Levin Law, P.A. may be able to help you with the FINRA expungement process. You may also have a claim for defamation, tortious interference, or other claims against your former employer.
Levin Law, P.A. represents financial advisors, stockbroker, investment advisors, bankers, and others in claims for wrongful termination, retaliation, discrimination, outstanding promissory notes as well as representing financial professionals in expungement claims.
WHAT IS A FORM U4?
Analysts, private bankers, traders and other securities-industry professionals must fill out the Uniform Application for Securities Industry Registration or Transfer or Form U4 if they wish to affiliate with a broker or a registered investment advisor. In addition to 15 sections that collect information about a candidate’s professional designations, residential history, employment history and similar matters, Form U4 also contains Disclosure Reporting Pages where the candidate must supply information about:
- Criminal proceedings
- Regulatory actions
- Investigations
- Customer complaints that resulted in arbitration or civil litigation
- Any other civil judicial matters
- Terminations
- Bankruptcies or compromises with creditors
- Bonds
- Judgments
Although it may not be possible to remove some of this information from your permanent record, inaccurate statements made by clients and contained in FINRA’s Central Registration Depository or the BrokerCheck website can be challenged and possibly removed. If this is something you believe would benefit you, you should speak with an experienced attorney.
WHAT IS A FORM U5?
Form U5 is the Uniform Termination Notice for Securities Industry Registration. FINRA requires the submission of a Form U5 when broker-dealers, investment advisers or issuers of securities part ways with an employee. Officially, Form U5 is a request for the termination of that employee’s registration. Form U5 must be filed electronically within 30 days of the dissolution of a working relationship.
In the financial advisory industry as in all industries, relationships between employers and employees are not always amicable. If a past employer fills out a Form U5 with information that’s inaccurate or defamatory, this can impact an employee’s subsequent career opportunities enormously in negative ways. Under certain circumstances, a Form U5 that contains misleading, erroneous, inaccurate or defamatory information can be expunged. In many instances, expungement is granted as an arbitration award. In instances where expungement claims are successful, FINRA will need to provide language that will replace the objectionable language since a new Form U5 will have to be issued.
If you feel that misleading or inaccurate statements from past clients or employers are impeding your career in the financial industry, Levin Law in Miami is ready to help. Contact us today to set up your free consultation.
Contact a Miami expungement claims attorney at (305) 402-9050 today. We look forward to speaking with you to determine your options through a free case evaluation.
