Effective immediately - February 1, 2011 - customers in FINRA arbitration have the option to choose an all-public arbitration panel in $100K+ cases with three arbitrators.  Customers may now choose between 2 panel composition methods.

1. The composition rules for majority-public panel, is the composition method FINRA used prior to the rule amendments.  It provides for a panel comprised of a chair-qualified public arbitrator, a public arbitrator and a non-public arbitrator.
2. The composition rules for optional all public panel, allows any party to select an all public arbitration panel.  FINRA believes that providing customers with the right to exclude a non-public arbitrator from the panel deciding their case will enhance customers’ perception of the fairness of FINRA’s rules and the securities arbitration process.

The amendments apply to all customer cases in which FINRA has not sent lists of arbitrators to the parties.

    FINRA Contacts.   Richard Berry, SVP, Director of Case Administration and Regional Office Services, Dispute Resolution [richard.berry@finra.org] or Margo Hassan, Asst Chief Counsel, Dispute Resolution,
[margo.hassan@finra.org].

For further details, go to:   [FINRA RegNote 11-05, February]