FINRA Board OKs Proposal To Simplify Arbitrator Selection

Law360, Los Angeles (April 19, 2013, 11:34 PM EDT) -- A Financial Industry Regulatory Authority board has approved a proposal that would simplify the financial regulator's arbitration panel selection rules by allowing investors to skip a procedural step and choose the arbitrators directly, according to a letter to firms FINRA published Friday.

Under the proposed amendments, which have to be approved with the Securities and Exchange Commission before they can be implemented, parties involved in disputes over claims of more than $100,000 could skip the panel method selection process before choosing the composition of their arbitration...
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