Regulatory Notice 12-30

SEC Approves Amendments to Arbitration Codes to Raise the Limit for Simplified Arbitration From $25,000 to $50,000

 

Effective Date: July 23, 2012

Executive Summary

FINRA Rules 12800 and 13800 (Simplified Arbitration) of the Customer and Industry Codes of Arbitration Procedure (Codes) provide streamlined arbitration procedures for claimants seeking damages of $25,000 or less. The SEC approved amendments to the Codes to raise the dollar limit for simplified arbitration from $25,000 to $50,000.

 

The amendments are effective on July 23, 2012, for all cases filed on or after the effective date.

 

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

 

Questions concerning this Notice should be directed to:

  • Richard W. Berry, Senior Vice President and Director of Case Administration and Regional Office Services, Dispute Resolution, at (212) 858-4307 or email; or
  • Margo A. Hassan, Assistant Chief Counsel, Dispute Resolution, at (212) 858-4481 or email.