Israel Klein wins FINRA arbitration; Award grants expungement of Form U5

NEW YORK - Oct. 17, 2016 - PRLog -- A FINRA broker won expungement of his Form U5, deleting reference to his license termination and changing a "yes" response to "no."

The FINRA Arbitration decision, issued October 13, 2016, set forth that the initial reason for termination on the broker's Form U5 was false and defamatory.

Attorney Israel Klein, of the law firm Imbesi Law P.C., successfully represented the FINRA broker, which included an in-person hearing at FINRA's New York office.

The FINRA broker filed a claim for arbitration that requested various remedies and expungement of relevant information from his Form U5 and BrokerCheck report.

After a hearing, the FINRA arbitrator issue an award that set forth:

The Panel recommends expungement of the current Termination Explanation in Section 3 of the Form US filed by HSBC Securities (USA) Inc. on July 18, 2014 for Claimant.

In addition, the Panel recommends that the "Yes" answer to Question 7F (1) of the foregoing Form US be expunged and changed to "No" and the accompanying Disclosure Reporting Page be deleted in its entirety.

A copy of the decision can be obtained by accessing FINRA's website.

Imbesi Law P.C. represents both customers and brokers in FINRA arbitration, including issues involving expungement of inaccurate information maintained in FINRA's CRD.

Imbesi Law P.C. Attorney Advertising 450 Seventh Avenue, New York, NY 10123.