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.
FINRA proposed increasing the amount of time for non-parties to respond to arbitrator subpoenas and orders of appearance of witnesses or production of documents.
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