From Chicago Tribune: (Reuters) – Wall Street’s industry-funded watchdog issued new guidance late Monday that gives arbitrators more information about their responsibilities in a process that allows securities brokers to request the removal of customer complaints from their public records.
The Financial Industry Regulatory Authority (FINRA) issued the guidance just days before a group of lawyers for investors plan to issue a report finding fault with the regulator’s system for clearing complaints from brokers’ records, a process known as “expungement.”