SEC Approves FINRA’S Rule Change Proposal Implementing “Rigged Panels” Investigation Report Recommendations
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By George H. Friedman, SAA Publisher & Editor-in-Chief

The SEC has approved FINRA’s rule change proposal to implement recommendations resulting from the outside investigation of allegations that the arbitrator selection process was rigged.

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SEC Revamps FINRA’s Expungement Procedures
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By David E. Robbins[1]

Since the February 23, 2023 publication in Securities Arbitration Alert of my article “FINRA’s New Expungement Rules – Balancing Interests But Adding Roadblocks,” FINRA filed amendments to those rules and the Securities and Exchange Commission (“SEC”) approved FINRA’s major “modification” to “the current process relating to the expungement of customer dispute information.”[2]   This article explains just what the SEC has approved and the implications for financial advisers seeking such “extraordinary relief.”

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House Committee Discusses CFPB’s Proposed Arbitration Clause and Class Action Waiver Registry
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By George H. Friedman, SAA Publisher & Editor-in-Chief

A recent House subcommittee hearing reviewing the performance of the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) among other topics discussed the Bureau’s efforts to create an arbitration clause registry.

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FINRA Board Met Last Month. Arbitrator Selection Rule Changes Approved
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By George H. Friedman, SAA Publisher & Editor-in-Chief

FINRA’s Board met in mid-December and among other matters approved changes to the arbitrator listing process.

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Expungement Update: Few Comments on Amended Proposal. PIABA and NASAA Supportive, But SIFMA Urges Disapproval
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By George H. Friedman, SAA Publisher & Editor-in-Chief

The comment period closed December 7 on FINRA’s proposed changes to its expungement rule filing.

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Expungement Update: FINRA Responds to Comments and Files an Amendment; SEC Seeks Comments on Changes and Disapproval
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By George H. Friedman, SAA Publisher & Editor-in-Chief

Those who thought we were nearing the end of the road for FINRA’s proposed changes to the expungement process need to rethink their assumptions.

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