What happens after FINRA staff receives a request for a waiver?
Upon receipt of a request for a waiver, FINRA staff will provide to the States where the individual is, or is seeking to be, registered a copy of the waiver request and any accompanying documents. FINRA staff will also conduct the review described above in response to Question 7, and will provide a written response granting or denying the waiver request. If a party whose waiver request is denied still wishes to proceed, he or she must name FINRA as a party, and serve FINRA with notice as set forth in response to Question 11, in any litigation to confirm the award. State authorities will make their own determination on whether to oppose the expungement. If the party is seeking expungement as part of a court proceeding, FINRA must be named as a party and served as set forth in response to Question 11. Based on the reasons given for requesting expungement, and after reviewing relevant documents and information, FINRA staff will determine whether to oppose. As with waiver requests, FINRA w
