BH&F Blog

Friday, September 26, 2008

FINRA Proposes Raising Threshold For Three Arbitrator Cases

The Financial Industry Regulatory Authority (FINRA) today announced it has filed a proposed rule change with the Securities and Exchange Commission to have investor cases with claims of up to $100,000 in dispute heard by a single public arbitrator, an increase from $50,000. One arbitrator would be assigned to cases involving $25,000 to $100,000, under the proposal, unless all parties in arbitration agree to a three-person panel. Claims of $25,000 or less would continue to be heard by a single arbitrator, while three would continue to be assigned to cases involving more than $100,000 in dispute. "As more claims are heard by one arbitrator, we further simplify and streamline the dispute resolution process," said Linda Fienberg, President of FINRA Dispute Resolution. "It is much easier to appoint one arbitrator than three, and these efficiencies multiply when we schedule and conduct prehearing conferences and evidentiary hearings."

To read the full article, click here.

posted by BHF at 2:02 PM

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BH&F Blog

Friday, September 26, 2008

FINRA Proposes Raising Threshold For Three Arbitrator Cases

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