Law360, New York (August 7, 2008, 12:00 AM EDT) -- With lawsuits and settlements linked to the collapse of the auction rate securities market piling up, the Financial Industry Regulatory Authority announced Thursday that it had set up an arbitration process for auction rate-related claims.
Investors will be able to opt to have their claims against underwriters and issuers of auction rate securities heard before a three-person panel of arbitrators, FINRA said.
The arbitrators will not be affiliated with any firm that has sold auction rate securities since Jan. 1, 2005, according to the FINRA announcement....
FINRA Sets Up Arbitration Panels For ARS Cases
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