Amendments to Mediation Code to Provide the Mediation Director With Discretion to Determine Whether Parties to a FINRA Mediation May Select a Mediator Who Is... (FINRA Regulatory Notice)

Amendments to Mediation Code to Provide the Mediation Director With Discretion to Determine Whether Parties to a FINRA Mediation May Select a Mediator Who Is Not on FINRA’s Mediator Roster

Under FINRA Rule 14107 (Mediator Selection) of the Code of Mediation Procedure (Mediation Code), parties to a mediation may select a mediator from FINRA's roster or from a source of their own choosing, including a mediator who is not on FINRA's mediator roster. In limited instances, the director of Mediation (Mediation director) may assign a mediator. The SEC approved amendments to the Mediation Code granting the Mediation director discretion to determine whether parties may select a mediator who is not on FINRA's mediator roster.

Effective Date: August 6, 2012

Cross References: SEC Release 34-67040, 77 FR 31677 (May 29, 2012) (File No. SR-FINRA-2012-011); FINRA Rule 14107.

View notice in full here(links externally to FINRA website).