Wall Street watchdog signals new hurdles for clearing brokers' records

Submitted by Anonymous (not verified) on Wed, 10/16/2013 - 12:06pm

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."

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