FINRA urged to cut industry ties for arbitrators
IRVINE, Calif. — Critics of the industry arbitration system want the Financial Industry Regulatory Authority to require that “public” arbitrators have no ties to the industry. In a rule awaiting approval at the Securities and Exchange Commission, New York- and Washington-based FINRA has proposed limiting to $50,000 a year the amount of revenue a public arbitrator could receive from brokerage firms for handling customer disputes.
IRVINE, Calif. — Critics of the industry arbitration system want the Financial Industry Regulatory Authority to require that “public” arbitrators have no ties to the industry.
In a rule awaiting approval at the Securities and Exchange Commission, New York- and Washington-based FIN
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