FINRA-Proposed Rule Change Relating to Revisions to Definitions of "Non-Public" and "Public" Arbitrator (Fed. Reg.)

The FINRA proposal amending the definitions of "non-public arbitrator" and "public arbitrator" was published in the Federal Register.

The amendments provide that persons who worked in the financial industry for any duration during their careers would always be classified as non-public arbitrators, and persons who represent investors or the financial industry as a significant part of their business would also be classified as non-public arbitrators, but could become public arbitrators after a cooling-off period.

Comments on the proposed amendments must be submitted by July 24, 2014.

See: 79 FR 38080; FINRA Rule Filing. Related news: FINRA Proposes Rule Change Relating to Revisions to Definitions of "Non-Public" and "Public" Arbitrator (June 18, 2014).