Customer Option to Choose an All Public Arbitration Panel in All Cases

The SEC approved a FINRA proposal that allows customers in FINRA arbitration to have the option of choosing an all-public arbitration panel in all cases with three arbitrators. As a result of the rule change, customers have two options for panel composition: (1) a majority-public panel and (2) an all-public panel. The rule change is effective immediately.

Document Number

FINRA Regulatory Notice 11-05

Date

February 1, 2011

Cross References

SR-FINRA-2010-053

SEC Release 34-63799 (Approval Order)

Comments Received

FINRA News Release

FINRA Rules 12402-03