FINRA Update: Public Arbitrator Limitations, Adjournment, Task Force, and More

September 9, 2015

Joshua D. Jones

Publication
ABA Section of Litigation, Securities Litigation Newsletter

Joshua D. Jones



In the past year, the Financial Industry Regulatory Authority (FINRA) has been active in working to fulfill its mission to provide investor protection and promote market integrity. Practitioners will note a number of recent developments in the FINRA Codes of Arbitration Procedure as well as other updates and changes to rules and regulations affecting arbitration practice.

Limitations as to Who Can Serve as a Public Arbitrator
On February 26, 2015, the Securities and Exchange Commission (SEC) approved FINRA-proposed limitations as to who can serve as a public arbitrator. The revisions (SEC Release No. 34-74383 (Feb. 26, 2015)) apply to both the FINRA Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes (Industry Code).

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