Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Following a recent U.S. Court of Appeals ruling, financial advisors will continue to find it difficult to purge their Central Registration Depository records of consumer complaint information following a settlement agreement. This makes it all the more important for them to act proactively to prevent complaints in the first place.

In its Karsner v. Lothian ruling, the appeals court reversed a lower court decision that prohibited the State of Maryland from intervening in a stockbroker’s attempt to have a complaint purged from his CRD record. The state attempted to intervene in order to preserve its statutory ability to review license applications and determine advisor fitness to do business in the state.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.