What Are the Steps That Should Be Taken While Seeking Expungement?

By FINRA Expungement Attorneys

If you find yourself burdened by a stain on your record due to a past disciplinary action, seeking expungement can be a crucial step toward reclaiming your professional reputation. Expungement, in the context of FINRA (Financial Industry Regulatory Authority), refers to the process of removing certain items from a broker’s disciplinary record. However, this process can be complex and demanding. In this article, we will outline the essential steps that should be taken while seeking expungement with an expungement attorney by your side, ensuring that you understand the process and can approach it effectively.

Understanding Expungement and Its Purpose

Expungement is a legal process that allows brokers to erase specific customer dispute information from their public records maintained by FINRA. The purpose of expungement is to provide brokers with the opportunity to clear their names from unjust or false allegations, preserving their professional reputation.

Analyzing Eligibility for Expungement

Before embarking on the expungement process, it is crucial to assess whether you meet the eligibility criteria set forth by FINRA. Expungement is not granted easily and is typically reserved for cases where the information to be removed is false, defamatory, or erroneous. Understanding your eligibility will save you time and effort in the long run.

Engaging Qualified FINRA Expungement Attorneys

Navigating the expungement process alone can be overwhelming and increases the likelihood of making errors. It is highly recommended to seek the expertise of FINRA expungement attorneys from My RIA Lawyer, who have a comprehensive understanding of the process. These professionals can guide you through each step, ensuring that you present a strong case for expungement.

Initiating the Expungement Request

Once you’ve enlisted the assistance of qualified attorneys, the process begins with filing a formal expungement request with FINRA. This request should include all relevant details and evidence supporting your claim for expungement.

The Arbitration Phase

Upon receiving the request, FINRA will initiate the arbitration phase, which is essential for expungement. During this phase, the evidence will be carefully reviewed, and all parties involved will have the opportunity to present their arguments. It is crucial to have a well-prepared case and skilled representation during arbitration.

Obtaining a Court Order

If the arbitration process yields a favorable result, obtaining a court order is the next step. The court order is necessary to enforce the expungement decision, ensuring that the information is removed from public records.

Updating Central Registration Depository (CRD) and BrokerCheck

Once the court order is obtained, the expunged information will be removed from the Central Registration Depository (CRD) and BrokerCheck databases. This step is vital in ensuring that the expunged information no longer appears on your record.

Notifying Other Regulatory Authorities

Apart from updating the CRD and BrokerCheck, it is essential to notify other regulatory authorities about the expungement to maintain consistency across all platforms.

Rebuilding Your Professional Reputation

With the expungement successfully granted, you now have the opportunity to rebuild your professional reputation and move forward with confidence in your career.

Seeking Guidance from Peers and Mentors

After the expungement process, seeking guidance and advice from peers and mentors can prove to be invaluable. They can offer support and insights to help you make the most of your clean record.

Ensuring Compliance and Ethical Practices

With a fresh start, it is vital to remain committed to compliance and ethical practices to avoid any potential pitfalls in the future.

The Importance of Full Disclosure

While expungement removes certain records, it is essential always to be truthful and forthright about your past when required by regulatory authorities.

Regularly Reviewing Your Record

Even after expungement, it is prudent to regularly review your record to ensure accuracy and address any discrepancies promptly.

Staying Informed About Regulatory Changes

Financial regulations can change over time, and staying informed about these changes will help you maintain a strong and compliant professional standing.


Seeking expungement is a critical process for brokers aiming to clear their records and restore their professional reputations. However, it is not a straightforward task, and the guidance of experienced FINRA expungement attorneys from My RIA Lawyer in Alpharetta is highly recommended. By following the outlined steps and remaining committed to ethical practices, brokers can navigate the expungement process successfully and look forward to a brighter future in their careers.


Can all items be expunged from a broker’s record?

  • Not all items can be expunged, and it is essential to meet specific eligibility criteria set by FINRA.

How long does the expungement process typically take?

  • The timeline for expungement can vary depending on the complexity of the case, but it generally takes several months.

Can I seek expungement without an attorney’s help?

  • While it is technically possible, seeking the expertise of FINRA expungement attorneys is highly advisable for a higher chance of success.

Will expungement automatically restore my professional reputation?

  • Expungement helps remove damaging information, but rebuilding your reputation requires consistent ethical practices and dedication to compliance.

Can I appeal a denied expungement request?

  • Yes, in some cases, you can appeal a denied request, but it is crucial to have strong grounds for the appeal and professional legal assistance.

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