SEC Approves Amendments to FINRA’s Code of Procedure

FINRA Reg. Notice 12-12

The SEC approved amendments to FINRA’s Code of Procedure. The amendments are procedural in nature and include the following, in addition to several more minor changes:

• allowing service of a complaint (and notices of certain expedited proceedings) on counsel when counsel agrees to accept such service;
• permitting electronic filing of papers with an adjudicator;
• requiring an attorney seeking to withdraw from a disciplinary case to file a motion before withdrawal would be approved;
• allowing hearing officers to manage the parties’ pre-hearing submissions to reduce and eliminate duplicative filings; and
• allowing counsel to the NAC to decide a procedural motion in an eligibility proceeding or an expedited proceeding.

Effective Date: March 30, 2012

Cross References: FINRA Rule 9000 Series; FINRA Rule 9267(a)(3); SEC Release No. 34-66096, 77 FR 1524 (Jan. 10, 2012) (Order Approving File No. SR-FINRA-2011-044).

For more information about this document, you may contact one of the following Cadwalader attorneys:Bradley J. Bondi.