FINRA Proposes Amending the Codes of Arbitration Procedure Relating to Canceling or Postponing a Hearing

FINRA filed a proposed rule change with the SEC to amend the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes relating to schedule changes for a hearing.

The proposed rule change would affect Rules 12214, 12601, 13214 and 13601, and would require that either the parties give more advance notice before canceling or postponing a hearing, or a higher late cancellation fee be assessed if such notice is not provided.

See: Text of Proposed Rule Change.