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FINRA Dispute Resolution Update - April
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(April 3, 2009 - Friday) - April 3, 2009
The following items have recently been added to the Arbitration & Mediation section of the FINRA Web site.
Topics in this Announcement:
* Proposed Rule Change to Establish Procedures to Expedite the Administration of Promissory Note Cases
* Proposed Rule Change to Amend Rules 12206 and 13206 of the Customer and Industry Codes
* Proposed Rule Change to Amend the Industry Code to Change the Criteria for Determining the Panel Composition When the Claim Involves an Associated Person in Industry Disputes
* SEC Approves Amendments to Require Arbitrators to Provide an Explained Decision at Parties' Joint Request
* SEC Approves Amendments Raising the Threshold for Single Arbitrator Cases to $100,000
* Revised Expungement Training Course
* Statistics
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Proposed Rule Change to Establish Procedures to Expedite the Administration of Promissory Note Cases
FINRA is filing a proposed rule change with the Securities and Exchange Commission (SEC) to adopt Rule 13806 of the Code of Arbitration Procedure for Industry Disputes (Industry Code) to establish procedures to expedite the administration of promissory note cases and amend Rules 13214 and 13600 of the Industry Code to make conforming changes.
Read more of SR-FINRA-2009-015 http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263175&m=701945&u=FINRA&s=http://www.finra.org/Industry/Regulation/RuleFilings/2009/P118263 for additional information.
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Proposed Rule Change to Amend Rules 12206 and 13206 of the Customer and Industry Codes
FINRA is filing a proposed rule change with the SEC to amend Rules 12206 and 13206 of the Code of Arbitration Procedure for Customer Disputes (Customer Code) and the Industry Code, respectively, to clarify that the rules toll the applicable statutes of limitation when a person files an arbitration claim with FINRA.
Read more of SR-FINRA-2009-013 http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263176&m=701945&u=FINRA&s=http://www.finra.org/Industry/Regulation/RuleFilings/2009/P118123 for additional information.
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Proposed Rule Change to Amend the Industry Code to Change the Criteria for Determining the Panel Composition When the Claim Involves an Associated Person in Industry Disputes
FINRA is filing a proposed rule change with the SEC to amend the Industry Code to change the criteria for determining the panel composition when the claim involves an associated person in industry disputes.
Read more of SR-FINRA-2009-011 http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263177&m=701945&u=FINRA&s=http://www.finra.org/Industry/Regulation/RuleFilings/2009/P118090 for additional information.
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SEC Approves Amendments to Require Arbitrators to Provide an Explained Decision at Parties' Joint Request
Effective April 13, 2009, FINRA will require arbitrators to provide an explained decision at the parties' joint request. An explained decision is a fact-based award stating the general reasons for the arbitrators' decision. Parties will be required to submit any joint request for an explained decision at least 20 days before the first scheduled hearing date.
Read more of Regulatory Notice 09-16 http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263178&m=701945&u=FINRA&s=http://www.finra.org/Industry/Regulation/Notices/2009/P118142 for additional information.
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SEC Approves Amendments Raising the Threshold for Single Arbitrator Cases to $100,000
Effective March 30, 2009, FINRA raised the threshold for appointing a single chair-qualified arbitrator. The SEC approved amendments to FINRA Rule 12401 of the Customer Code and FINRA Rule 13401 of the Industry Code to raise the amount in controversy for appointing a single chair-qualified arbitrator to $100,000.
Read more of Regulatory Notice 09-13 http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263179&m=701945&u=FINRA&s=http://www.finra.org/Industry/Regulation/Notices/2009/P118035 for additional information.
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Revised Expungement Training Course
This mandatory online course has been revised to include additional guidance on expungement procedures outlined in our new Code of Arbitration Procedure Rules 12805 and 13805.
Learn more about the course. http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263180&m=701945&u=FINRA&s=http://www.finra.org/ArbitrationMediation/Neutrals/Education/ArbitratorTraining/P010882
Register for the course. http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263181&m=701945&u=FINRA&s=https://guest.cvent.com/EVENTS/Register/IdentityConfirmation.aspx?e=8cbcbb1f-f9fb-47c1-a779-472074f6c286
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Statistics
View the latest Dispute Resolution statistics http://www.magnetmail1.net/ls.cfm?r=27381185&sid=6263182&m=701945&u=FINRA&s=http://www.finra.org/ArbitrationMediation/AboutFINRADR/Statistics/index.htm .
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