When the FINRA Board of Governors meets on 12/8/11, it will consider key new rules and rule amendments, beginning with debt research conflict of interest.  Here's the agenda of items up for discussion.  Following the meeting, a News Release will be issued detailing the Board's actions and anticipated next steps, if any. 1.  Debt Research Conflicts of Interest. A new rule proposal to address debt research conflicts of interest - a modified version of the concept proposal discussed in Regulatory Notice 11-11 that makes certain changes in response to comments. 2.  Expungement for Persons Not Named as Parties in Arbitration Claims. New rule proposals to amend the Codes of Arbitration Procedure for Customer and Industry Disputes - that would permit persons who are the "subject of" allegations of sales practice violations made in arbitration claims, but who are not named as parties to the arbitration, to seek expungement relief by initiating In re expungement proceedings. 3.  Fee Adjustment Proposals. A proposal to adjust the Trading Activity Fee (TAF) rate structure on covered equity securities - to ensure proper funding of FINRA's regulatory program given the continued decline in share volume.  The proposed rate adjustment is based on a 2011 rule filing that outlined the future process for establishing the TAF rate. Board also considers proposed changes to qualification exam fee structure - to better align program fees with FINRA's operational costs to develop, administer and deliver exams. 4.  Mediator Selection. Proposed amendment to Rule 14107 of Code of Mediation Procedure - to provide Director of Mediation with discretion to determine whether parties to a FINRA mediation may select a mediator who is not on FINRA's mediator roster.  Currently, the Mediation Code permits parties to select a mediator either from a list supplied by FINRA or from a list or other source of the parties' choosing. 5.  Optional TRACE Data Delivery Services and Related Fees. Proposed amendments to FINRA Rule 7730 to establish new fees in connection with 2 new optional TRACE data delivery services - (i) TRACE Data Delivery Plus service - which would enable firms to request and download transaction data on demand via the FINRA ADDS for dates prior to the last 30 days.   (ii) TRACE Data Delivery Secure File Transfer Protocol (SFTP) service - would have an automated interface to retrieve the firm's daily TRACE trade journal files.  Proposed costs may include a one-time set-up fee, and monthly access fees. 6.  Subpoenas and Orders of Production in Arbitrations. Proposed amendments to Customer and Industry Codes of Arbitration Procedure (Rules 12512, 12513, 13512 and 13513) - to standardize FINRA practices relating to arbitrator orders or subpoenas to non-party brokerage firms.  As proposed, a brokerage firm party requesting the appearance of a witness or production of documents, either by subpoena or arbitrator order, would pay the reasonable costs of the appearance and/or production.  In addition, amendments would codify FINRA's current practice of allowing the non-party to raise objections to subpoenas or orders issued by arbitrators. 7.  Threshold for Simplified Arbitration. Proposed amendments to Rules 12800 and 13800 of Customer and Industry Codes of Arbitration Procedure, respectively, to raise the threshold for simplified arbitration from $25,000 to $50,000.  Under simplified arb procedures, claims generally are decided on the written submissions of the parties and no hearing takes place. [FINRA Announcement: Bd of Govs. Meeting, 11/30/11]