FINRA Rules Limit Dismissal Motions In Arbitration

Law360, New York (September 26, 2007, 12:00 AM EDT) -- The new Financial Industry Regulatory Authority has proposed rules designed to discourage motions to dismiss and to make it more difficult for such motions to succeed in arbitration conducted under its protection.

FINRA's board of governors approved rule amendments with the explicit intent to limit dispositive motions in arbitration, FINRA said Wednesday.

The proposed rules will be reviewed by the U.S. Securities and Exchange Commission, which oversees FINRA.

The proposed rule amendments fall into two categories: some would limit the circumstances under which a dispositive motion...
To view the full article, register now.