Regulatory Notice 14-49

SEC Approves Amendments to the Codes of Arbitration Procedure to Increase Arbitrator Honoraria by Increasing Arbitration Filing Fees, Member Surcharges and Process Fees and Hearing Session Fees

Effective Date: December 15, 2014

Executive Summary

The Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Code of Arbitration Procedure for Industry Disputes (Industry Code) (together, codes) govern the payments that FINRA makes to its arbitrators for the services they provide to FINRA’s dispute resolution forum, as well as the fees assessed to the parties for arbitration proceedings. Honoraria payments to arbitrators have not been increased in fifteen years. The amendments increase the honoraria arbitrators receive for participating in hearing sessions, serving as a chairperson, deciding contested subpoena motions, and deciding simplified arbitration cases. To fund the increase in the payments to arbitrators, the SEC approved amendments to the codes to increase certain arbitration fees, such as the arbitration filing fees, member surcharges and process fees, and hearing session fees.

The amendments are effective for arbitration cases filed on or after December 15, 2014. The arbitrator honoraria and fee increases will not apply to arbitration cases filed prior to the effective date.

The text of the amendments is available at www.finra.org/notices/14-49.

Questions concerning this Notice should be directed to:

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

Related Documents: 

DateTitleFormat - Size
11/14/2014Attachment A - Notice 14-49PDF - 89 KB