Aug. 31, 2022
August 31, 2022 A couple of years ago I rece3ived a \"complaint\" from an individual that I had already reported as a vulnerable client. It is my only disclosure and I have been BOMBARDED with lawyers soliciting me to purchase their services. I've learned that for a minimum of $10,000 I can have my record wiped clean. I'm fine with my record, I'm not fine with the bottom feeders that have migrated to this issue. They seek to profit from it. Why don't we have a rule in place that once it is no longer a reportable issue it can be removed from the record? I recently updated my U4 because that denied compliant has now expired but I was told in no uncertain terms that FINRA has no obligation and would not likely proactively take it down. Why not? Why not have a process? We are held to very high standards, I respect the regulatory body as a whole, why can't we work together on this? I'm 29 years in the industry, 25 registered and only one complaint. At this time I wouldn't pay the $ to have it removed, I can easily explain it to clients and likely a prospect is going to find it difficult to find someone with 29 years and zero disclosures. end