Expungement Training, Education and Workshops for FINRA Arbitrators
Arbitrator Training
Arbitrators must complete the Expungement training course and pass the exam with a score of at least 80%. It is available on FINRA’s training platform.
Enhanced Expungement Training - NEW
The Enhanced Expungement Training provides an overview of revisions to the Codes of Arbitration Procedure to modify the process relating to the expungement of customer dispute information. The revised rules are effective on October 16, 2023.
The revised rules require that expungement requests filed under the Industry Code be decided by a three-person panel randomly selected from a Special Arbitrator Roster. To be eligible for the Special Arbitrator Roster, an arbitrator must:
- be a public arbitrator eligible for the chairperson roster;
- evidence successful completion of, and agreement with, Enhanced Expungement Training provided by FINRA Dispute Resolution Services (DRS); and
- have served as an arbitrator through award on at least four customer arbitrations administered by FINRA or another self-regulatory organization in which a hearing was held (excluding hearings held as part of a special proceeding).
The revised rules also require that expungement requests filed during simplified customer arbitrations be considered by public chair arbitrators who evidence successful completion of, and agreement with, the Enhanced Expungement Training. Reviewing the Check Your Knowledge Quiz and Reference Guide is optional. There is a statement at the conclusion of the training, which must be agreed to in order to complete the training. The course takes approximately one hour to complete.
The Enhanced Expungement Training is available on FINRA’s training platform.
The Neutral Workshops provide practicing arbitrators and mediators with updates on developments within FINRA's dispute resolution services program. They provide information about the latest proposed rule changes, procedures, recent Regulatory Notices as well as best practice tips.
- Fall 2023 – General Expungement Training; NEW
- Spring 2019 – Expungement of Customer Dispute Information;
- Spring 2017 – Promissory Notes and Requests to Amend a Broker’s Employment Information in CRD;
- February 2015 – Rule Amendments; 2015 Vision; Expungement Refresher;
- May 2014 – Expanded Expungement Guidance;
- December 2013 – Overview of the Central Registration Depository and BrokerCheck, the Role of Arbitrators in the Expungement Process, Technology Initiatives, and Increases to Arbitrator Honoraria;
- February 2012 – Embracing 2012 discusses the proposed In re expungement procedures;
- December 2008 – discusses new Rules 12805 and 13805 and procedures arbitrators must follow when considering requests for expungement relief;
- November 2007 – discusses expungement requests;
- February 2006 – NASD Dispute Resolution: New Rules Important to Arbitrators and Refresher on Expungement Rule 2130 (now FINRA Rule 2080); and
- October 2004 – discusses NASD Rule 2130 (now FINRA Rule 2080).
Education
The Neutral Corner is a newsletter that FINRA publishes quarterly to provide arbitrators and mediators with current updates on important rules and procedures within securities dispute resolution. Many editions of the newsletter have covered the topic of expungement.
- Approved Rule Change to Amend the Codes to Modify the Current Process Relating to the Expungement of Customer Dispute Information
- Enhanced Expungement Training
- Expungement Training Link
- Proposed Rule Change to Amend the Codes of Arbitration Procedure to Modify the Current Process Relating to the Expungement of Customer Dispute Information
- Expungement Training Link
- Proposed Rule Change to Amend the Codes of Arbitration Procedure to Modify the Current Process Relating to the Expungement of Customer Dispute Information
- Proposed Rule Change to Amend the Codes of Arbitration Procedure to Modify the Current Process Relating to the Expungement of Customer Dispute Information
- Report from the FINRA Board of Governors Meeting – May 2022
- Discussion Paper – Expungement of Customer Dispute Information
- Temporary Withdrawal of Proposed Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
- SEC Rule Filing: Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
- SEC Rule Filing: Proposed Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
- SEC Rule Filing: Proposed Amendments to the Codes of Arbitration Procedure Relating to Requests to Expunge Customer Dispute Information, Including Creating a Special Arbitrator Roster to Decide Certain Expungement Requests
- Regulatory Notice 20-25: FINRA Amends Arbitration Codes to Apply Minimum Fees to Requests for Expungement of Customer Dispute Information
- SEC Rule Approvals: Applying Minimum Fees to Requests for Expungement of Customer Dispute Information
- SEC Rule Filing: Applying Minimum Fees to Requests for Expungement of Customer Dispute Information
- Spring 2019 Neutral Workshop: Expungement of Customer Dispute Information
- Report From FINRA Board of Governors Meeting – December 2018
- All in the Details: Award Information Sheet
- Q&A – Parties Making Second Expungement Requests After Previous Denial
- Recent Court Decisions on Expungement
- Updated Award Information Sheets
- Prohibited Conditions Relating to Expungement of Customer Dispute Information
- Expanded Guidance - Conditioned Settlements; Customer Participation
- Q&A – 2080; Statutes of Limitation
- Q&A - Expungement Requests After Settlement
- A Closer Look at Expungement: Asking the Right Questions
- Limitations on the Types of Disclosure Events That May Be Expunged from the Central Registration Depository Through Arbitration
- Notice to Arbitrators and Parties on Expanded Expungement Guidance
- Q&A – Expungement in Intra-Industry Disputes
- Q&A - Expungement
- Expungement of Information from the Central Registration Depository in Intra-Industry Disputes
- Expungement Q & A – Expungement Hearings
- FINRA’s Revised Expungement Rules (includes sample expungement language)
- FINRA adopted Rules 12805 and 13805, providing additional administrative procedures that arbitrators must follow when considering expungement relief under Rule 2130 (now FINRA Rule 2080)
- FINRA filed a proposal to amend Customer and Industry Code Rules 12805 and 13805 to establish new procedures that arbitrators must follow when considering expungement relief under Rule 2130 (now FINRA Rule 2080)
- A refresher on the new expungement NASD Rule 2130 (now FINRA Rule 2080)