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FINRA Puts Kibosh On Rampant Dispositive Motions

Law360 (January 8, 2009, 12:00 AM EST) -- The U.S. Financial Industry Regulatory Authority on Thursday said it had received approval to implement new rules designed to cut down on motions to dismiss arbitration cases before they can be heard.

FINRA — a nongovernmental authority tasked with resolving monetary, business and employment disputes between investors, securities firms and employees of securities firms through arbitration and mediation — said the U.S. Securities and Exchange Commission's approval came in response to investor concerns regarding abusive and duplicative filing of dispositive motions.

"It's a step in the...
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