f the brokerage firm’s answer to any of these Disclosure Questions is “yes,” then, on the appropriate Disclosure Reporting Page (“DRP”) included in the broker’s Form U5, the firm must give complete details of the events or proceedings. The information set forth on a broker’s Form U5 is recorded in each broker’s CRD file, and is made available to other broker-dealers for them to use in deciding whether to hire the broker. If a brokerage firm is seeking to retaliate against a broker, the firm may include defamatory information on the Form U5 that damages the broker’s good name and severely harms the broker’s ability to find new employment. Further, there is a growing trend in which brokerage firms use Form U5s as an anti-competitive tool. That is, financial services firms increasingly disparage brokers on Uniform Termination Notices in order to dissuade customers from following the brokers to new firms.