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Strict Broker CRD Expungement Rules Effective April 12, 2004
NASD Notice to Members 04-16 details the requirements to obtain expungement of customer arbitration or litigation records from a broker's CRD.
The requirements will be difficult to meet. Brokers who wish to have their CRDs expunged under the old, relatively lenient rules (specifically a moratorium effective since January 19, 1999 pursuant to NTM 99-09) must file in court before April 12, 2004.
Source: www.nasdr.com
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