FINRA Launches Arbitration Pilot Program

Law360, New York (July 24, 2008, 12:00 AM EDT) -- The Financial Industry Regulatory Authority is launching a two-year pilot program to evaluate the attractiveness and efficiency of arbitration panels completely made up of public arbitrators.

The securities regulator said Thursday that six financial services firms will be participating in the program, which will give investors who make claims against the companies the option of appearing before a panel made up of three public arbitrators. The current standard is two public arbitrators and one nonpublic arbitrator.

The program will allow investors who file claims against the...
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