Broker-dealers are required to file a Form U-5 Uniform Termination Notice for Security Industries Registration update upon termination, for any reason, of a securities industry professional's registration with FINRA. The Form U-5 can contain false or misleading information that can negatively impact obtaining future employment. 

 

Our firm's attorneys have successfully removed negative information from many FINRA broker's U-5.

 

The Form U-5 lists all registrations, securities licenses , amendments, and customer complaints by individual investors pertaining to an individual securities industry professional. Whereas the U4 is filed in order to establish that an individual is a registered securities industry professional, the U-5 is updated with pertinent information only upon termination , voluntary or otherwise from a given position.

 

U-5 record is updated following the voluntary resignation or dismissal with cause of a securities industry professional, the employer from which that person is separating may enter negative information. Negative statements may include accusations of misconduct or derogatory generalizations as to the cause of the resignation or dismissal.