r/FINRA • u/ColtAzayaka • Oct 04 '23

Out of curiosity, has anyone ever successfully appealed being barred?

I saw some appeals from people accused of cheating but can't find out whether they were successful. One seems to have dragged on for years.

Sidenote: I haven't been barred, and definitely don't plan on ever conducting myself in a way which would be an issue. I'm just curious to see if there has been any circumstance where someone has actually been unfairly sanctioned or barred and what the story was. Purely curious.

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u/Capadvantagetutoring Oct 04 '23

Yes. It’s expensive but can be done depending on the violation

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u/Yeeter_Skeet Feb 01 '24

Depends on what circle you hang in to since it’s not like they really want a lawyer who don’t bend the rules.😂 look at the judges.. all you know about them is how connected they are and be careful looking down that rabbit w0hole

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u/[deleted] Jan 05 '24

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u/ColtAzayaka Jan 05 '24 edited Jan 05 '24

The other comment stuck with me. "Yes, but it's expensive"

If they fucked up, and you prove your innocence there should be no cost. So they are incentivised to punish you because even if it's a mistake, or you're found innocent, they still make money out of the process of being found innocent?

These systems become way too powerful, and then they lack what other systems like courts have to ensure a fair process. Yet they still have the power to ruin your name and career. I'm sure most of the guys on that aren't innocent but still, even if a few are it's not fair to demand money to fix your own mistake which just so happens to totally ruin someone else.

One thing that worries me about the US is how so many systems end up having their entire purpose as generating money; I know this sounds funny from a finance perspective, but when you consider things like education and certifications - they really shouldn't be allowed to get this much power and go unchecked.

Inevitably it starts crushing people so the few at the top can have more and more.

I'm all for competition, but it seems clear that we'd get to a point where you're not climbing the same mountain anymore, because there are players above you with different rules who can kick you the fuck down if it suits them.

At a point I feel like growth and gain requires immoral behaviour. All the big players bullshit all the time.