On what basis will FINRA determine to participate in a court confirmation proceeding to oppose an expungement directive?
FINRA will generally participate in the court confirmation proceeding and generally oppose confirmation of the expungement directive if an expungement award was not issued in compliance with Arbitration Code Rule 12805 or 13805, or if arbitrators do not make an affirmative finding as required under Rule 2080. As a further means to ensure that the court is made aware of the investor protection and regulatory implications of an expungement, States may choose to intervene if they have concerns regarding whether investor protection or regulatory issues will be fairly considered.
Related Questions
- If FINRA tells the party seeking expungement that FINRA must be named as a party in the court confirmation process, where should FINRA be served with the court papers?
- On what basis will FINRA determine to participate in a court confirmation proceeding to oppose an expungement directive?
- Will FINRA participate in every court proceeding to confirm an expungement directive?
