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Expungement of Client Complaint

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Mar 3, 2016 5:00 am

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. 

Jan 13, 2017 10:22 am

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 does not only work on cases but also provides counseling. A lawyer can be your guardian, agent and legal advisor as well.

Apr 26, 2020 5:57 pm url not an active URL