“State Securities Regulator Moves To Vacate A FINRA Arbitration Expungement Award”

Attorney Robert Herskovits has authored this interesting article, available at JD Supra, discussing the intervention of the Alabama Securities Commission (“ASC”) in a Florida action brought by a registered financial advisor to confirm an arbitration award that expunged certain customer complaints from his record. According to the article, the ASC has stated its intention to vacate the award on grounds that the arbitrator acted with corruption, fraud, partiality, refused to hear evidence and exceeded his powers.

The article suggests that the ASC’s concerns go beyond the specific case and encompass a wholesale attack on the expungement process.

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