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SEC Approves Amendments Extending Response Times for Non-Parties in FINRA Arbitrations

The SEC approved amendments to FINRA's customer and industry arbitration rules to extend response times for non-parties to arbitration subpoenas, orders of appearance of witnesses and orders for the production of documents. The amendments, which are effective for cases submitted on or after July 1, 2019, also are intended to improve the discovery process.

As previously covered, the proposal would amend FINRA Rules 12512, 12513, 13512 and 13513.

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