The SEC has published for public comment a rule change proposal filed by FINRA to alter the arbitrator selection method in three-arbitrator customer cases. Comments are due by July 11, 2013.
Currently, customers must elect a panel composition method at the beginning of a case, with the default method being the Majority Public Panel option that results in one non-public (i.e. securities industry-affiliated) arbitrator sitting on a three-arbitrator panel. Currently , customers can opt out of that...
