We are often asked by financial advisors if there is anything they can do to clean up a negative disclosure on their Form U4. They often have questions like these: Can I remove this criminal record information from my Form U4? Can I get rid of this old customer complaint from my Form U4? Can I get rid of a termination notice from a former firm that is on my Form U4? What about these old financial disclosures of judgments or liens – can they come off my Form U4?
The short answer is that it may be possible to clean up a bad disclosure on the Form U4 by either: 1) getting it removed from CRD all together, 2) getting it put in archived status so that it does not appear to the public, or 3) rewording the disclosure and adding a carefully written broker comment so as to put the event in the proper context and work to minimize the negative consequences of the disclosure as much as possible.
We’ve developed a free guide, The Financial Advisor’s Guide to a Cleaner Form U4, that provides answers to five frequently asked questions we receive from advisors. The guide also provides answers to four questions that advisors SHOULD be asking about their Form U4, but often don’t.
To claim your copy of The Financial Advisor’s Guide to a Cleaner Form U4 sign up with your name and email address below, and we’ll get it out to you.
Then, when you’re ready to talk to an experienced regulatory attorney about your situation, we invite you to contact us.
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