New Recommendations by the FINRA Dispute Resolution Task Force (5th Article)

Posted on March 2nd, 2017 at 9:09 AM
New Recommendations by the FINRA Dispute Resolution Task Force (5th Article)

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the fifth in a series of posts to discuss the 51 recommendations the FINRA Dispute Resolution Task Force (Task Force) has made to the National Arbitration and Mediation Committee (NAMC). NAMC is FINRA’s standing Board advisory committee.

The Task Force has recommended that FINRA improve how it monitors the application of the recently adopted definitions of public and non-public arbitrators. The Task Force is concern that individuals, who have substantial process and subject matter expertise, are nonetheless stricken from the list of public arbitrators.

FINRA agreed with the Task Force’s recommendation and plans on filing a proposal to amend FINRA Rule 12100 of the Customer Code and FINRA Rule 13100 of the Industry Code, to revise the non-public arbitrator definition. Specifically, FINRA will amend the rule to state that a non-public arbitrator is a person who is otherwise qualified to serve as an arbitrator, and is disqualified from being classified as a public arbitrator.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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