FINRA Enforcement works tirelessly on the front lines of investor protection, and this tremendous undertaking demands steadfast leadership. On this episode of FINRA Unscripted, we are reintroduced to Bill St. Louis, FINRA's new Executive Vice President and Head of Enforcement, to learn more about what's on the horizon for Enforcement in the new year.
Composition of Panels
(a) Generating Lists
(1) The list selection algorithm will generate:
(A) A list of 10 arbitrators from the FINRA non-public arbitrator roster;
(B) A list of 15 arbitrators from the FINRA public arbitrator roster; and
(C) A list of 10 public arbitrators from the FINRA chairperson roster.
(2) The list selection algorithm will generate the chairperson list first. Chair-
(a) Before First Hearing Session Begins
Before the first hearing session begins, the Director may remove an arbitrator for conflict of interest or bias, either upon request of a party or on the Director's own initiative.
(1) The Director will grant a party's request to remove an arbitrator if it is reasonable to infer, based on information known at the time of the request,
(a) Composition of Panels
The arbitrator will be a public arbitrator selected from the public chairperson roster, unless the parties agree in writing otherwise.
(b) Generating Lists
(1) The list selection algorithm will generate a list of 10 public arbitrators from the FINRA chairperson roster.
(2) The list selection algorithm will exclude arbitrators from the lists based upon current
(a) After the panel is appointed, the Director will schedule an Initial Prehearing Conference before the panel, except as provided in paragraph (c) of this rule.
(b) The Initial Prehearing Conference will generally be held by telephone. Unless the parties agree otherwise, the Director must notify each party of the time and place of the Initial Prehearing Conference at least 20 days before
(a) A prehearing conference may be scheduled upon the joint request of the parties or at the discretion of the Director. The Director will set the time and place of the prehearing conference and appoint a person to preside.
(b) At a party's request, or at the discretion of the panel, the panel may schedule one or more additional prehearing conferences regarding any outstanding
