The FINRA Award set forth the following:
The Panel recommendes the expungement of the termination explanation
from Claimant Tom Campbell's (CRD #1888056) filed by Sigma Financial
Corporation on December 5, 2007, and maintained by the Central Registration Depository ("CRD") based on the defamatory nature of the
The FINRA Arbitration Panel mandated that the reason for termination, as set forth on Mr. Campbell's Form U5, be amended to delete any any references to his alleged violation of the firm's communication policies and procedures. The three (3) person Arbitration Panel determined that the initial termination explanation set forth on the Form U5 was defamatory. Said determination allows the Claimant's CRD to be amended, without the intervention of a Court.
All three arbitrators concurred with the decision. A copy of the decision can be obtained by accessing FINRA's Web site.
Vincent Imbesi, a partner of Imbesi Christensen, represents both customers and brokers in FINRA arbitration, including issued involving expungement of inaccurate information maintained in the CRD.
Mr. Imbesi's contact information is:
450 Seventh Avenue, 30th Floor
New York, NY 10123