Skip to main content
A Better Partnership

Publications

Feb 2011
09
February 09, 2011

FINRA Arbitration Panels May Now Be Entirely Public at Customer's Request

The Financial Industry Regulatory Authority (FINRA) has announced a rule change that allows customers more choices regarding who sits on its arbitration panels. Unfortunately, this means a panel may be chosen that does not include anyone with securities industry work experience or expertise.

The rule change, which was approved by the Securities and Exchange Commission on Jan. 31 and took effect the next day, allows customers to choose from two panel selection methods -- the new Optional All Public Panel or the old way (Majority Public Panel) that you are familiar with from the past.

More details are available from FINRA here. FINRA's news release on the rule change is available here.

If you have any questions about the new rule, please contact Mel Moseley (616.752.2177 or mmoseley@wnj.com) or any other member of the Broker Dealer/Investment Advisor Law and Regulation Group at Warner Norcross & Judd.

NOTICE. Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you.

By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you.

Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.

ACCEPTCANCEL

Text

+ -

Reset