What You Need to Know About FINRA and BrokerCheck Expungements

As a broker, information about customer disputes through FINRA and BrokerCheck can have a serious impact on your future. You may be worried about these disputes, especially when the issues were quickly resolved or otherwise rejected or dismissed. The dispute itself can still hurt your future. 

While it may not be a crime to have a dispute with a customer, you may have a chance to get that record expunged, so you don’t have to face penalties that could hurt your business. 

Here’s what you need to know about getting these disputes expunged: 

Customer Complaints Can Hurt Your Career 

The bad news is, a customer having a dispute with you could hurt you even if nothing came of the dispute. It may have been rejected, settled amicably, or dismissed, but it could still affect whether people choose to work with you. BrokerCheck is a free database where anyone could see any past disputes. Even if they don’t have access to FINRA’s databases, they can see that you have a dispute on your claim. 

While these records may contain more information about your case, a lot of potential customers may not pay much attention to that. They may instead see the number of disputes and decide not to work with you. 

How to Get Complaints Expunged

When you’re facing trouble because of a dispute, your best option may be to talk to a FINRA expungement lawyer, who can fight to get your dispute removed from your record. They can help you file a request for expungement relief. Your claim will be brought before an arbitration panel, which could be one to three arbiters depending on the amount of money involved. 

To get an expungement, you’ll need to prove at least one of the following: 

  • The dispute was factually impossible
  • The broker wasn’t involved
  • The claim was false

Once they review the claim, they can decide whether you and your lawyer have provided enough evidence for your defense. From there, they may uphold the ruling, or they may remove the dispute from your name on BrokerCheck and FINRA’s records. 

Protect Yourself from Unfair Penalties

If you’ve been in the middle of a dispute, you may be right to worry about the effects of a dispute on your record. Fortunately, you have a chance to act now, expunge those disputes, and get back to your business. 

If you’re concerned about these losses, you have opportunities to make a difference for your future. All you have to do is call a lawyer and get the help you need to get your record clean. 

Are Paid Surrogacy Contracts Legal?

A paid surrogacy contract’s legality is vital for the future of both surrogates and intended parents. When the attributes and expectations of a surrogacy contract is made legal, the parties to the contract are safeguarded from future liabilities and risks. However, surrogacy contract laws are not the same across the world. There are certain countries or regions where a surrogacy falls outside the confines of the law. Let’s understand the scenario in America.

Are paid surrogacy contracts legal? Honestly speaking, it depends on the laws of the state where the surrogate mother resides. For example, if the surrogacy-seeking couple lives in New York but the surrogate mother doesn’t, then New York laws would not apply to the case. Generally, the laws of the state where the surrogate lives comes into effect in a surrogacy arrangement.

As per New York legislature, commercial surrogate parenting agreements an unenforceable or void and against the state’s public policy. In other words, any kind of surrogacy arrangement that entails financial compensation is prohibited. If the statute is violated, strict fines or/and penalties could be imposed. This prohibition law has its roots in the Baby M case (New Jersey) that entailed a long legal tussle between a surrogate and a couple after the surrogate was not willing to part ways with the baby after its birth.

Initially, the surrogate had agreed to give the baby away post birth. However, once the relationship between the surrogate and the couple turned sour, the surrogate mother had a change of mind and wanted to keep the baby. This famous case prompted both New Jersey and New York legislatures to create laws that mitigated commercial surrogacy.

A surrogacy has changed in implementation over the years. Back in the day, the surrogate also donated the egg, which means she was genetically connected to the baby. Today, almost all surrogacies carried out do not involve the surrogate’s egg. Instead, a fertilized egg is put inside the surrogate’s womb and the baby’s father provides the sperm.

Long story short, there still isn’t much clarity on whether surrogacy contracts are legal or otherwise. Surrogacy has made it possible for infertile or childless couples to bring up their own kids. Though child adoption makes this possible too, there isn’t no genetic connection in the case of adoption.

If you’d like to learn more about surrogacy and what your legal rights are as a surrogate or individual seeking surrogacy, Baby Steps Surrogacy Center can help.

 

Resources:

https://en.wikipedia.org/wiki/Surrogacy_laws_by_country

https://en.wikipedia.org/wiki/Surrogacy