SEC Approves FINRA Rule Clarifying Arbitration Procedure


On January 7, 2010, the Securities and Exchange Commission (“Commission”) approved an amendment filed by the Financial Industry Regulatory Authority (“FINRA”) to clarify filing date discrepancies which exist with respect to arbitration claims filed in FINRA’s arbitration forum. This amendment modifies Rule 12307 of the Code of Arbitration for Customer Disputes and Rule 13307 of the Code of Arbitration for Industry Disputes (the “Codes”).

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Published In: Alternative Dispute Resolution (ADR) Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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