FINRA Amends Arbitration Codes to Increase Expungement Fees Beginning September 14, 2020

FINRA Release:

Regulatory Notice 20-25: Minimum Fees for Expungement Requests 

On May 26, 2020, the Securities and Exchange Commission (SEC) approved FINRA’s proposal to amend Part IX (Fees and Awards) of the Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes to apply minimum filing fees to requests for expungement of customer dispute information, whether the request is made as part of the customer arbitration or the associated person files an expungement request in a separate arbitration (straight-in request). The amendments also apply a minimum member surcharge and process fee to straight-in requests, as well as a minimum hearing session fee to expungement-only hearings. The amendments are effective for cases filed on or after September 14, 2020.

Please contact Beverly Hills attorney, David Harrison, Esq. at the Law Offices of David Harrison, P.C. for a free consultation to discuss if the expungement of a customer complaint(s) is right for you. Mr. Harrison is reachable at (310) 499-4732.

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