FINRA amended its Codes of Arbitration Procedure. The revisions make changes to the arbitrator list selection process and clarify requirements on prehearing conferences, hearings, claims and motions practice, case dismissals and hearing records.
News & Insights
In its 2023 Annual Report, the SEC Office of the Investor Advocate detailed its Fiscal Year 2023 efforts on investor outreach, responding to investor inquiries, and engaging in substantive research on (i) registered index-linked annuities and (ii) mandatory arbitration clauses in investment advisory agreements.
FINRA proposed amendments to arbitration and mediation rules concerning representation before FINRA's Dispute Resolution Services forum.
The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.
FINRA amended the process for the expungement of customer dispute information. The amendments will go into effect on October 16, 2023.