Regulatory Notice 17-04

SEC Approves Amendments to the Customer and Industry Codes of Arbitration Procedure Broadening Chairperson Eligibility in Arbitration

Effective Date: January 9, 2017

Summary

The Securities and Exchange Commission (SEC) approved amendments to FINRA Rules 12400 and 13400 (Neutral List Selection System and Arbitrator Rosters) of the Customer and Industry Codes of Arbitration Procedure (Codes) to provide that an attorney arbitrator is eligible for the chairperson roster if he or she has completed chairperson training provided by FINRA and served as an arbitrator through award on at least one arbitration (instead of two arbitrations) administered by a self-regulatory organization (SRO) in which hearings were held.

The amendments apply to all chairperson applicants and are effective on January 9, 2017.

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

Questions concerning this Notice should be directed to:

  • Todd Saltzman, Vice President, Director of Case Administration, Operations, and Neutral Management, FINRA Office of Dispute Resolution, at (212) 858-4273; or
  • Margo Hassan, Associate Chief Counsel, FINRA Office of Dispute Resolution, at (212) 858-4481.