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.
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.
The SEC granted "accelerated approval" of a FINRA rule proposal, as modified by "Amendments Nos. 1 and 2," to change the process relating to the expungement of customer dispute information in FINRA's Codes of Arbitration Procedure.