Regulatory Notice 18-40

SEC Approves Amendments to the Codes of Arbitration Procedure to Establish a $200 Honorarium for Contested Subpoenas or Orders

Effective Date: January 7, 2019

Summary

The Securities and Exchange Commission (SEC) approved amendments to FINRA’s customer and industry arbitration rules to pay each arbitrator a $200 honorarium to decide without a hearing session a contested subpoena request or a contested order for production or appearance.

The amendments are effective for cases filed on or after January 7, 2019.

Questions concerning this Notice should be directed to:

  • David Carey, Associate Director, Office of Dispute Resolution, at (212) 858-4333 or by email; or
  • Mignon McLemore, Assistant Chief Counsel, Office of Dispute Resolution, at (202) 728-8151 or by email.