FINRA is taking comments on its proposal to change the rules for its current procedures for removing complaints about advisors from a central database. But time is running out, as the comment period ends May 21.

Complaint removal, or expungement, from an advisors’ records in the Central Registration Depository is important for financial advisors to seek if they are they subject of a frivolous or meritless complaint as the CRD record plays an important role in job opportunities and relationships with customers, regulators and compliance departments, says securities attorney and compliance consultant Jennifer Woods Burke, president of CompliGuide.

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