Rulemaking Items for Discussion at the May 2016 Meeting
The FINRA Board of Governors will consider the following rulemaking item at its May 2016 meeting. After the meeting, FINRA will notify firms via email about the Board's actions and anticipated next steps, if any.
Disruptive Quoting and Trading Activity
The Board will consider proposed rule amendments to address expressly two types of disruptive quoting and trading activity and to establish an expedited process for issuing cease and desist orders to prevent firms from engaging in the activity or providing access to a customer that engages in the activity.
Gifts, Gratuities and Non-Cash Compensation
As part of the retrospective rule review process, the Board will consider proposed amendments to FINRA rules governing gifts, as well as proposals related to non-cash compensation and business entertainment.
Broadening Chairperson Eligibility in Arbitration
The Board will consider proposed amendments to the FINRA arbitration forum rules to revise the chairperson eligibility requirements.
Motions to Dismiss in Arbitration
The Board will consider proposed amendments to the arbitration forum rules governing motions to dismiss prior to the conclusion of a party's case in chief.
Panel Selection in Customer Cases with Three Arbitrators
The Board will consider proposed amendments to the arbitration forum rules to increase the number of public arbitrators on the list that FINRA sends parties during the panel selection process in customer cases.