The Financial Industry Regulatory Authority or FINRA said that it would in the next few weeks send to the Securities and Exchange Commission a proposal that would allow securities brokers to clean up some of the black marks on their broker's records.

Upon its arrival with the SEC, the plan would meet some form of resistnace from independent customer lawyers that represent investor interest.

FINRA is the industry recognized regulatory organization and is aiming to provide relief for its brokers who have records filled with arbitration cases filed against their firms. While these are not personal cases, their records are affected because the firms they had worked for had either required them to sell problematic shares of stock that have not been deemed safe. The black marks remain even after their firms have settled the cases.

The proposal provided would allow brokers multiple opportunities to clear or clean up their records. According to a FINRA spokeswoman, the regulator would be considering the many suggestions that is expected to be submitted should the the FINRA plan be recognized by the SEC.