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FINRA Rule 2080 Specifies the Narrow Grounds for Expungement

  • The claim, allegation, or information against the registered person is factually impossible or clearly erroneous;
    • For example, if a broker named in a claim was not employed by the securities firm during the relevant time period, arbitrators could find that the broker was erroneously named in the claim, dismiss the claim against the broker, and recommend expungement of the claim information from the broker’s CRD record.
  • The registered person was not involved in the alleged wrongful activity; or
    • For example, if arbitrators find that the broker was not involved in any specified activity, there is no logical basis for keeping the claim on the broker’s CRD record, and the arbitrators may recommend expungement.
  • The claim, allegation, or information against the registered person is false.
    • Arbitrators can only use this standard after considering the merits of the allegations against a broker or securities firm. For example, if a customer alleged the broker made unauthorized trades, and the broker provided a document directing the trades and signed by the customer, arbitrators could find that the allegation was false.

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Rob and his firm assisted with a number of formation and start up issues for my new business venture. He is an intelligent attorney and a pleasure to work with. I will continue to use The Castle Law Firm in the future. Highly recommend.

- John M.

As first-time franchise buyers, we didn't know what to expect. Rob walked us step-by-step through our franchise agreement and FDD, answering any questions and easing our concerns. He pointed out potential risks and terms to negotiate, and has been there for any business questions along the way. Rob...

- Mike W.

I had an excellent experience working with Mr. Castle as my attorney. Mr. Castle reviewed several detailed contract issues with me. He was able to answer all of my questions, provide valuable insight and suggestions in a way I could easily understand. Mr. Castle is knowledgeable, as well as...

- Shawn M.

Great, professional service. I have been working with The Castle Law Firm on some business matters, and have been blown away by their attention to detail and professionalism. Rob is extremely responsive and gets work done quickly. I would recommend this firm to anyone needing legal/business...

- Andres J.

Rob Castle provided me with beneficial legal counsel when forming my various LLCs, and has served as a great resource while running my businesses. He is very professional, and I recommend his firm’s services.

- Richard Y.

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