FINRA: All-public panels in arbitration on the table
The Financial Industry Regulatory Authority Inc. said last week that it plans to propose a rule allowing investors who file arbitration claims to opt for an all-public panel
The Financial Industry Regulatory Authority Inc. said last week that it plans to propose a rule allowing investors who file arbitration claims to opt for an all-public panel. The proposal, which will be filed with the SEC, would expand an existing two-year-old Finra pilot program. Basically, investors would be able to choose either a panel comprising two public arbitrators and one non-public arbitrator (which is now the standard) or an all-public panel. The rule would apply to all investor disputes against any firm or broker. For more information, click here.
Learn more about reprints and licensing for this article.