FINRA approves Banc of America broker’s expungement

Posted on June 15th, 2011 No Comments

The Financial Industry Regulatory Authority recently approved for a former Banc of America broker’s termination to be expunged from his records.

The broker was hired by Banc of America in 2008, just before the bank merged with Merrill Lynch. Authorities with the bank assured him that his position would not be affected if the two merged. However, the broker was terminated from his position with the bank shortly after the merger.

A 3 person FINRA panel approved for language that said he was terminated to be removed from the broker’s Form U5. Form U5s are always available through FINRA’s Central Registration Depository for regulators and brokerages to see. With the expungement, the statement that the broker was discharged due to “manager’s loss of confidence” will be permanently removed and replaced with language explaining that his discharged was caused by a merger.

If you or someone you know needs assistance having something expunged from a record, contact the Dallas expungement lawyer, Mark T. Lassiter, at 214-651-1121 to learn more about expungement services today.

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