Finra extended the postponement of in-person arbitration and mediation hearings through July, the regulator said Friday.
The suspension is now in place through July 31, the Financial Industry Regulatory Authority Inc. said in an update on its website. The organization is halting in-person hearings due to public safety concerns related to the COVID-19 pandemic.
Finra first suspended in-person proceedings in the middle of March through May 1. It has extended the ban a couple times since then, adding several weeks with each iteration.
Finra is offering virtual hearings via Zoom and teleconference if the parties agree or if they’re mandated by arbitrators. “These services provide high-quality, secure, user-friendly options for conducting video and telephonic hearings and sharing documents remotely," Finra said on its website.
At least three Zoom hearings have occurred, but lawyers are generally reluctant to take that route so far.
Finra runs the arbitration system that settles disputes to between customers and brokerages and between registered representatives and firms. Brokerage contracts almost always include mandatory arbitration clauses.
A new MetLife survey finds real estate professionals are increasingly steering clients toward tax experts as rising property values leave more sellers facing significant capital gains.
The independent broker-dealer expands its business development bench with a new recruiter and an internal promotion in the West.
The leading ultra-high-net-worth RIA joins other large wealth firms, including Raymond James and LPL, in creating executive roles focused on artificial intelligence strategy
New Preqin-powered benchmarks add transparency to private equity and credit performance across BlackRock's platforms.
Supervision vice chair speaks following recent launch of AI adoption practices by regulators.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
