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Beginning on June 5, the Financial Industry Regulatory Authority Dispute Resolution Services (FINRA DRS) will permit in-person hearings to resume at most of its hearing locations for in-person arbitration and mediation proceedings.
Continue Reading FINRA Dispute Resolution Services to Reopen Most Hearing Locations for In-Person Arbitration and Mediation

On April 21, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-16 (Notice) to remind member firms about requirements when using predispute arbitration agreements for customer accounts.
Continue Reading FINRA Reminds Members About Requirements When Using Predispute Arbitration Agreements for Customer Accounts

On February 12, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-04 (Notice), in connection with an amendment to FINRA’s Codes of Arbitration Procedure for Customer and Industry Disputes, regarding certain fees paid to arbitration chairpersons. FINRA Rules 12214 and 13214 were amended to increase the hearing-day chairperson fee from $125 to $250 to better compensate the chairperson for the additional training and responsibilities required of the position. Additionally, the amendments establish a new chairperson fee for an additional $125 for each prehearing conference that the chairperson leads, even if an arbitration case closes without a hearing.
Continue Reading FINRA Amends Arbitration Codes to Increase Arbitrator Chairperson Fees and Certain Arbitration Fees

On July 20, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-25, amending its Codes of Arbitration Procedure for Customer and Industry Disputes. These amendments will apply certain minimum fees where associated persons (or those acting on their behalf) request that customer dispute information be expunged from Central Registration Depository (CRD). These minimum fees…

The Financial Industry Regulatory Authority (FINRA) amended its Membership Application Program (MAP) rules to incentivize payment of arbitration awards by preventing an individual from switching firms, or a firm from using asset transfers or similar transactions, to avoid payment of arbitration awards. The MAP rules govern the way in which FINRA reviews a new membership application and a continuing membership application; through these applications, applicants show their ability to comply with applicable securities laws and FINRA rules. To address the issue of customer recovery of unpaid arbitration awards, FINRA made the following key changes:
Continue Reading FINRA Amends Rules Related to Membership Application Program to Promote Payment of Arbitration Awards

On April 9, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-11 to amend FINRA’s Code of Arbitration Procedure for Customer Disputes (Customer Code) to expand a customer’s options to withdraw an arbitration claim if a member firm or an associated person becomes inactive.
Continue Reading FINRA Amends Arbitration Code to Expand Options Available to Customers if a Firm or Associated Person Is or Becomes Inactive

On July 23, the Financial Industry Regulatory Authority (FINRA) released Regulatory Notice 18-21, which summarizes recent amendments to the Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes (Industry Code).
Continue Reading FINRA Amends Rules to Provide an Option for Simplified Arbitration