FINRA Proposes to Protect Personal Confidential Information in Documents Filed with FINRA Dispute Resolution

FINRA filed with the SEC a proposed rule change to amend the Customer and Industry Codes of Arbitration Procedure. The amendments provide that any document that a party files with FINRA which contains an individual's Social Security number, taxpayer identification number or financial account number must be redacted to include only the last four digits of any of these numbers.

FINRA noted that the proposed amendments would only apply to documents filed with FINRA, not documents that parties exchange with each other or submit to the arbitrators at a hearing on the merits.

See:Text of Proposed Rule Change.