SEC OKs FINRA Bid To Expand Arbitrator Lists

Law360, New York (July 13, 2010, 5:08 PM EDT) -- The U.S. Securities and Exchange Commission has given a green light to a Financial Industry Regulatory Authority rule change meant to afford parties hashing out disputes before FINRA more control in the process of selecting an arbitrator.

The SEC issued an order approving the rule change on Friday.

The change increases the number of arbitrators on lists generated by FINRA's Neutral List Selection System, and was proposed with an eye toward cutting down on the incidence of parties ending up before an arbitrator randomly picked by...
To view the full article, register now.