Regulatory Notice 09-74

SEC Approves Changes to Arbitration Rules on Definition of Associated Person, Distribution of the FINRA Discovery Guide and Applicability of Hearing Session Fees; Effective Date: January 18, 2010

Executive Summary

Effective January 18, 2010, amendments to the Customer and Industry Codes of Arbitration:

  • clarify the definition of "associated person" and make it conform to the same term in the FINRA By-Laws;
  • streamline a case administration procedure; and
  • clarify that customers could be assessed hearing session fees based on their own claims for relief in connection with an industry claim.

 

The amendments will apply to claims filed on or after the effective date.

 

The text of the amendments is set forth in Attachment A.

 

Questions concerning this Notice should be directed to:

  • Kenneth L. Andrichik, Senior Vice President, Chief Counsel and Director of Mediation and Strategy, Dispute Resolution (DR), at (212) 858-3915
    or by email; or
  • Mignon McLemore, Assistant Chief Counsel, DR, at (202) 728-8151 or by email.