According to a recent announcement from FINRA’s Office of Dispute Resolution, they are drafting a new rule which would tag cases involving claimants 75 years or older for expediting processing. FINRA already has expedited processing available for 65 year or older or sick claimants — but the deadlines that generally determine the timing of the arbitration do not change. FINRA’s new rule would tackle that problem and hopefully greatly improve how quickly expedited claims move through the process by changing — ie, shortening — the actual deadlines.
Thanks to a recent decision by the Fifth Circuit, it appears that brokers will, once again, get off the hook when it comes putting their clients' interests in front of their own. Into the breach has stepped an idea that has been kicking around for a years now, but which may be the best of several uninspiring options to compel brokers to act more responsibly toward investors: The Oath.
The Financial Industry Regulatory Authority (FINRA) has released a serious of proposals aimed at implementing tougher supervisory protocols on brokers with a history of misconduct. Sponsoring brokerages would be forced to institute heightened supervisory measures on these brokers or be held responsible for any subsequent transgressions.