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Finra proposes expungement changes

Regulatory/Compliance

Finra’s proposed changes to rules regarding the expungement of customer dispute information include a provision that would prohibit brokers from removing disciplinary items that are more than a year old, Financial Advisor reports. The regulator is taking comments on the plan until Feb. 5, 2018. See a link to the article below. Also, Carolyn McClanahan, director of financial planning at Life Planning Partners, notes that recent high-profile cases of sexual harassment highlight the importance of addressing the issue at both large and small advisory firms. She suggests two broad actions to make a positive lasting change: 1) fill boards and executive level positions with at least half women; and 2) “financial firms need to develop and codify positive cultures going forward.” See her column at Financial Planning below.

Finra’s Proposed Ban On Expungements No Surprise

By Dan Jamieson

Source: Financial Advisor

This week, Finra proposed a rule that would prohibit brokers from removing customer complaints and certain arbitrations that are more than a year old. The action by Finra addresses a growing number of brokers who are asking to have old complaints erased.

https://www.fa-mag.com/news/proposed-ban-on-expungements-no-surprise-36112.html

How small firms can prevent sexual harassment

By Carolyn McClanahan

Source: Financial Planning

The dominoes keep falling — allegations of sexual harassment are rampant. Harvey Weinstein, Bill O’Reilly, Matt Lauer, Kevin Spacey and even Melanie Martinez have been accused of horrible actions. Politicians are fair game, too but have mostly been able to keep a lock on their jobs, with the exception of John Conyers and Al Franken. Who is next?

https://www.financial-planning.com/opinion/prevent-sexual-harassment-in-financial-advisory-firms