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The board agreed to modest reforms to its arbitration system based on recommendations by a special task force set up to examine it
May 9, 2016 @ 2:33 pm | By Mark Schoeff Jr. | Investment News
Finra last week made modest reforms to its arbitration system that would expand the list of public arbitrators who could be selected for each case and enable attorneys to chair dispute panels.
The changes were approved by the board of the Financial Industry Regulatory Authority Inc. last week and posted on its website Friday.
As a result of the rule changes, Finra would increase the number of public arbitrators from 10 to 15 on the list from which dispute participants can choose and attorneys can chair after having participated in one rather than two arbitration cases.
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