SEC Approves Amendments to Add Category of Persons Eligible to Serve as Disciplinary Proceeding Panelists (FINRA Reg. Notice 14-45)

FINRA issued a Regulatory Notice regarding the SEC's approval of amendments to FINRA Rule 9231 and Rule 9232 to establish an additional category of persons eligible to serve as panelists on a hearing panel or extended hearing panel in a disciplinary proceeding. The additional category includes persons currently serving, or having previously served, on a committee appointed or approved by the FINRA Board.

The rule change also makes a conforming amendment to Rule 9232 to provide FINRA with a larger pool of individuals with experience and expertise who could serve as panelists.

The amendments became effective on September 26, 2014.

See: FINRA Regulatory Notice 14-45; FINRA Notice Announcement. Related news: SEC Approves FINRA-Proposed Rule Relating to Composition of Hearing Panels in Disciplinary Proceedings (Fed. Reg.) (October 2, 2014); FINRA Proposes Rule Change Regarding the Composition of Hearing Panels and Extended Hearing Panels (Fed. Reg.) (August 21, 2014); FINRA Proposes Rule Change Regarding the Composition of Hearing Panels and Extended Hearing Panels (August 7, 2014).