Imbesi Law Group PC ® Attorney Advertising 1501 Broadway, 19th Floor, New York, NY 10123 - 212-736-0007 - Imbesi Law Group P.C. is not affiliated with FINRA. Email us: firstname.lastname@example.org
Affordable Legal Representation to Assists FINRA Brokers in Removing or Changing Information on a BrokerCheck Report and from a Form U5
Our law firm understands the importance of a broker's information that is displayed on BrokerCheck and a Form U5. We have successfully obtained expungement of information from BrokerCheck, Form U5s and the CRD. Information that we successfully removed includes:
5.0 star rating 10/9/2014
I lost my job at a large broker dealer as a Financial Advisor after earning a promotion, and I can only speculate publicly as to the reason. However, I called and spoke with Vincent briefly (or not so briefly, I was fairly upset), and Brittany Weiner became my lawyer. I was between a rock and a hard place because my spouse is a wounded veteran, and my stepson also lives with us full-time, with all the pressure being on me to provide. Unfortunately, it's difficult to even sell insurance with a mark on your U5, false or not, so I was thankful for the assistance with my issue. A FINRA panel expunged my record, corrected the false "Yes", and rephrased the remaining sentence to more accurately reflect what happened. Granted, I'm still waiting on a court order from the NY Supreme court to change the publicly visible record, but at least now I have something to show potential employers that works in my favor. Ms. Weiner was very patient with me as well, given that I lived in Dubai and Shanghai during the year-long process, and was often on a different time zone, had difficulty accessing my email accounts due to government bans on communication methods, and was often buried in consulting work as I completed my MBA. My hearing was held on the telephone, and I was not forced to travel back and forth during my work as well, which saved my life. Given that the way I found the firm was to google law firms that have won against said large broker dealer, I really threw up a prayer and won this time, and I am very thankful for Ms. Weiner and Mr. Imbesi for taking up my case
4.0 star rating 9/30/2014
The law firm of Imbesi/Christensen took on my case which is a semi high profile case The case is still pending. However, I must say that they are doing for me what they said they would do and even more. Keep up the good work. Your efforts are really appreciated!! R.Spicer
4.0 star rating
Mr. Vincent Imbesi was very thorough during our initial phone consultation which kept me calm even though I was a bit apprehensive about the process of seeking legal help due to prior negative experiences with different Law Firms. I had an awesome experience during every visit to Imbesi Christensen. Thus far in my legal battle we have had very positive results and I am confident that their hard work will continue to produce positive results. The firm has also been very responsive to any questions or concerns that I brought up and always seem happy to address them.
Mr. Imbesi has a very calm demeanor that makes me feel relaxed and welcomed. The staff was extremely pleasant and the wait time short. His staff including Marsha and Steven have been very genuine and understanding of my case and I have full faith that they will do their very best to represent me and put their best effort to have a positive outcome. This was hands down the best experience I've had with a law firm or any legal team for that matter. I highly recommend them!
FINRA brokers only have a limited time to change information on a Form U5. Incorrect information on a Form U5, including a misleading reason for termination, can prevent brokers from being employed by major broker-dealers. FINRA expungement of a Form U5 may be a brokers only chance to make any changes. Failure to timely file for FINRA expungement can cause the information to remain permanently. Our attorneys assist brokers in obtaining expungement in an expedited and affordable manner. Call or send an email today to communicate with an attorney.
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5.0 star rating
My experience with this Law Firm couldn't have been better, It almost felt unreal. The line of communication between Jeanne and I was more than what was expected from Day 1. I was never out of the look on anything and what I like most was the passion Jeanne had for my case. I hope I don't ever need an attorney again but if I do, I know where to go. They went above and beyond for me. Thanks, much appreciated.
New York, NY
5.0 star rating 1/25/2015
I recommend Brittany Weiner.
Brittany was very helpful and explained all my options. She took my case when others would not and was in constant contact with me whenever I had any questions. I would and have already referred her services to anyone looking for a lawyer who will listen to and help them.
New York, NY
5.0 star rating 1/5/2015
I recommend Brittany Weiner.
This letter is to thank your for your representation that was above and beyond what I expected to receive. Ms. Britanny Sloane Weiner was clever, extremely professional, comforting, and always kept me informed during the process. It was apparent to me that she cared about the outcome almost as much as I did. Your style of representation was impeccable, classy, and she cleverly executed every facet of the case.
I was proud to have you as my lawyer. I felt comforted by your portrayal of experience and knowledge. Throughout the trial, I feld protective and secure by your support.
Ms. Britanny Weiner always well prepared, thorough, convincing, and always accurate. I could see that the jurors had respect for her and what she had to say.
Ms. Britanny Weiner did everything she promised and more. She comforted me when I was worried, and fought hard for me. She was my friend. I have already recommended a co-workers, friends and family.
Ms. Weiner is truly and asset to her firm, as her is a terrific person and attorney. Thanks for excellent representation.
FINRA Expungement Process
FINRA Expungement Summary
Expungement of information made on a FINRA broker’s official record is critical because it is viewed by potential customers, employers, family members and regulators. Information about a broker is maintained in the Central Registration Depository (“CRD”). FINRA’s BrokerCheck website, which obtains its information from the CRD, makes it extremely easy for anyone to access a broker's information. Failure to timely correct inaccurate information can result in substantial financial damages.
Removing Inaccurate Information
A broker-dealer has thirty (30) days from a brokers last day of employment to file a Form U5. A broker may not know what is set forth on the Form U5 until it is filed. Inaccuracies set forth on a broker’s Form U5 can cause substantial financial damages to a broker. Removing inaccurate, unfair or defamatory language generally requires filing a FINRA arbitration, requesting expungement.
A FINRA arbitration filed by a broker requesting expungement can also include other potential claims, including failure to receive compensation (bonus, commission, personal days) and employment discrimination. Some states provide damages for defamatory language set forth in a Form U5.
In New York and California, a broker can obtain expungement of some information set forth on a Form U5 if the broker proves defamation. FINRA arbitration panels have discretion to award damages and, contrary to formal legal proceeding, arbitration panels are not always required to issue detailed written decisions, rendering appeals rare, but possible.
The Form U5 is used by FINRA to determine whether a broker potentially violated any FINRA regulations or laws. As such, one important purpose of the form is to alert FINRA of potential misconduct and enable it to investigate, sanction and deter misconduct by brokers.
Time Limits to Request Expungement of FINRA Customer Disputes
A broker can seek expungement of old customer complaints on a CRD report. For each claim, a new arbitration filing would be required, as well as a new Uniform Submission Agreement.
FINRA Rule 12206 provides that “[n]o claim shall be eligible for submission to arbitration under the Code where six years have elapsed from the occurrence or event giving rise to the claim. The panel will resolve any questions regarding the eligibility of a claim under this rule.” As such, a broker must file a Statement of Claim (complaint) within six (6) years of the customer’s complaint.
FINRA Form U5
The Uniform Termination Notice for Securities Industry Registration, (also referred to as “Form U5”) requires a broker-dealer to truthfully represent various facts when a broker ceases employment with the broker-dealer. When a broker is terminated for any reason, FINRA rules require the broker-dealer to provide a “reason for termination” on the broker’s Form U5. If the separation was contentious, or if the broker was “permitted to resign,” the broker-dealer must set forth a reason. The broker-dealer could set forth a innocuous reason, such as “mutual agreement” or it can represent a more detailed reason for which it deems accurate, even if untrue.
Expungement of Customer Complaint Information
FINRA Regulatory Notice 08-79 set forth the expungement procedure rule:
1. Hearing – The entire arbitration panel must conduct a recorded hearing by telephone or in person regarding the expungement request.
2. Settlements – If parties entered into a settlement agreement, the arbitrators must review the settlement documents and consider the amount paid to any party. The arbitrators must consider any terms and conditions of the settlement that regarding the broker’s involvement in the alleged misconduct before deciding whether to award expungement.
3. Limited Grounds for Ruling – The panel must set forth the grounds for expungement for which the expungement order was based. It must then provide a brief written explanation of the reasons for ordering record expungement.
Basis for Expungement
i. The claim, allegation or information is factually impossible or clearly erroneous;
ii. The registered person was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation or conversion of funds; or,
iii. The claim, allegation or information is false.
4. Mandatory Fees – The arbitrators must assess fees against the parties requesting expungement relief in which the sole issue to be determined by the arbitrators is the determination of the appropriateness of expungement.
Once an expungement order has been issued by the arbitrators (within their Award), the broker must have the Award confirmed in court as a judgment, giving FINRA an opportunity to intervene.
Once the Award has been confirmed as a judgment, the broker must then serve a copy to the CRD so that the existence of the arbitration can be expunged from the broker’s official record.
New York, NY
5.0 star rating
Brittany is a great attorney and an exceptional litigant. Responsive, insightful and effective, Brittany was able to nail my case focusing on the fundamental aspects of it. During litigation, Brittany carefully laid out my case and tore down the other side's arguments in her cross examination. Brittany fought for me fiercely and I thank her for that. The ruling was in my favor but even if it hadn't been, I would have been as pleased as I am with her performance. Brittany never gave me false expectations, I always knew where I was standing in this case and what to expect.
IMBESI LAW P.C. is a private law firm and is not affiliated with FINRA in any way.
New York, NY
Hello, I just checked brokercheck and to my surprise, there are zero disclosed events on my record! This is wonderful news and I thought I would have to have argue or state a case against a portion of my claim!
Thank you so much!
New York, NY
5.0 star rating 3/06/2017
I hired Brittany after I had already started my FINRA arbitration (regarding my U5). She picked up the case and was very straightforward (a rarity for lawyers!) about what she could do, how much it would cost me, and what the likely outcomes would be. She was incredibly thorough and organized and guided me through every step of the stressful journey with a level head. She was highly accessible whenever I needed to speak with her and took my case very seriously, even though it was probably a minor case for her! I don't have a ton to say because she made the whole process much easier for me with her knowledge and skill set. I highly recommend Brittany for FINRA arbitration cases.
New York, NY
4.0 star rating 11/21/2016
I retained Brittney’s representation for an employment dispute which involved a FINRA arbitration. Throughout the process Brittney was very diligent, always informed, and up to date with what was required in my case. I would recommend Ms. Weiner and her team to family, friends, and anyone needing guidance in the complex world of employment law, and employment disputes. The case went in our favor and I couldn’t thank her and the team enough for bringing this lengthy matter to a fair and favorable conclusion!!
Thank you Brittney!