Regulatory Notice 15-18

SEC Approves Amendments to Arbitration Codes to Revise the Definitions of Non-Public and Public Arbitrator

Effective Date: June 26, 2015

Executive Summary

The SEC approved amendments to the definitions of non-public arbitrator and public arbitrator in the Customer and Industry Codes of Arbitration Procedure. The amended definitions provide, among other matters, that persons who worked in the financial industry for any duration during their careers will always be classified as non-public arbitrators, and persons who represent investors or the financial industry as a significant part of their business will also be classified as non-public, but may become public arbitrators after a cooling-off period. The amendments also reorganize the definitions to make them easier for arbitrator applicants and parties, among others, to determine the correct arbitrator classification.

The amendments are effective on June 26, 2015.

Questions concerning this Notice should be directed to:

  • Todd Saltzman, Deputy Director of Case Administration, Dispute Resolution, at (212) 858-4273; or
  • Margo A. Hassan, Associate Chief Counsel, Dispute Resolution, at (212) 858-4481.

Related Documents: 

DateTitleFormat - Size
5/27/2015Attachment APDF - 57.86 KB