Business Description
FINRA staff will provide the States where the individual is registered, or is seeking to be registered, with a copy of the waiver request and any accompanying documents. FINRA staff will review the information to determine whether the award complies with FINRA Rule 12805 and FINRA Rule 13805, and whether the CRD Expungement relief was awarded based on one or more of the standards in FINRA Rule 2080. Provided that the award reflects compliance with the rules, and contains an affirmative finding that the expungement meets one or more of the standards in FINRA Rule 2080, FINRA staff will generally grant the waiver. See Notice to Members 04-16. FINRA will provide a written response granting or denying the waiver request. If a party whose waiver request is denied still wishes to proceed, he or she must name FINRA as a party, and serve FINRA with notice, in any litigation to confirm the award. State authorities will make their own determination on whether to oppose the expungement.
