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Broker's U5 Overturned

Published: April 3, 2017

Pastore & Dailey successfully argued for the correction of a bond trader’s Form U5 before a FINRA Arbitration Panel. This trader’s former employer, a worldwide banking institution, misrepresented the reason for the termination of his employment. Pastore & Dailey convinced the Panel to rule that the wording must be changed to reflect the reality. Contested expungement hearings are rare, and the re-writing of a U5 by a panel in such a situation is extraordinary. Pastore & Dailey is pleased that it could achieve this result, the correct result, for its client.