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Dec 15 2008 - Aug 16 2009Aug 17 2009 onwards

12805. Expungement of Customer Dispute Information under Rule 2080

In order to grant expungement of customer dispute information under Rule 2080, the panel must:
(a) Hold a recorded hearing session (by telephone or in person) regarding the appropriateness of expungement. This paragraph will apply to cases administered under Rule 12800 even if a customer did not request a hearing on the merits.
(b) In cases involving settlements, review settlement documents and consider the amount of payments made to any party and any other terms and conditions of a settlement.
(c) Indicate in the arbitration award which of the Rule 2080 grounds for expungement serve(s) as the basis for its expungement order and provide a brief written explanation of the reason(s) for its finding that one or more Rule 2080 grounds for expungement applies to the facts of the case.
(d) Assess all forum fees for hearing sessions in which the sole topic is the determination of the appropriateness of expungement against the parties requesting expungement relief.
Amended by SR-FINRA-2009-046 eff. Aug. 17, 2009.
Adopted by FINRA-2008-010 and amended by FINRA-2008-063 eff. Dec. 15, 2008.

Selected Notice: 08-79.

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