Expungement of Client Complaint
After many years in the industry I received my first written client complaint. To make a long story short, the client thought they lost money in a bond fund because a capital loss showed up on their 1099 when they sold the fund. In reality, the bond fund paid much more interest / dividends than the capital loss and they actually made several thousand dollars. My BD denied the claim but because the initial amount was over $5000 it is disclosed on my U4.
In this case, the complaint is clearly not factual and is simply erroneous.
Is it possible to get this expunged from U4 / Brokercheck? Everything I have ready online is telling me there has to be a hearing and an order to get it removed. I'm not above taking this person to arbitration or court. Has anyone ever sought damages from a complainant. I am willing to fight for my reputation. Any advice would be greatly appreciated.
If you are not wiling to take that person to court, it would be better to atleast consult a lawyer once. They have an expert knowledge about the laws and legal matters. The lawyer like http://www.tarabay-gemayel.com/ does not only work on cases but also provides counseling. A lawyer can be your guardian, agent and legal advisor as well.