Administrative/Regulatory
Sep. 5, 2014
FINRA moves to change arbitrator rules
The Financial Industry Regulatory Authority plans to redefine the differences between its two groups of arbitrators, a move that can reclassify some attorneys.
Daily Journal Staff Writer
The Financial Industry Regulatory Authority plans to reclassify securities attorneys who act as arbitrators in legal disputes between investors and their brokerages as so-called "nonpublic" arbitrators to denote their substantial ties to the securities industry.
The move comes as the Wall Street watchdog continues to revise its mandatory arbitration process amid criticism that the system ...
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