From the archive. This update was written in 2011 and describes the rules and guidance as they stood at the time. Some have since been amended or replaced. It is kept for reference and should not be relied on as a statement of current law.
On February 1, 2011, FINRA amended the Code of Arbitration Procedure for Customer Disputes to allow customers with claims in excess of $100,000 to have two options for panel composition, either: (i) a majority-public panel with two public and one non-public arbitrator or (ii) an optional all-public panel with all public arbitrators. For further information, including the full text of the notice and the amended and consolidated rules, please see FINRA’s website.
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