Finra also wants to set a minimum $1,425 filing fee for expungement cases (in addition to the usual forum and hearing fees). That’s a big jump from the current charge: Expungement cases filed by brokers typically do not ask for damages, so they incur the lowest minimum filing fee of $50.
The move by Finra to clamp down on the number of expungement comes as an increasing number of brokers are requesting to clean up old disclosure items.
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