FINRA Sets Effective Date for Expanded Chair Roster Eligibility in Arbitration

FINRA notified member firms that the SEC approved a proposal to permit an attorney arbitrator to be eligible for the chairperson roster, as long as they (i) completed chairperson training and (ii) served as an arbitrator through award on at least one SRO-administered arbitration (as opposed to the current requirement of two arbitrations) in which hearings were held.

The final amendments apply to all chairperson applicants and will become effective on January 9, 2017.