SEC Approves FINRA-Proposed Rule Relating to Composition of Hearing Panels in Disciplinary Proceedings (Fed. Reg.)

The SEC approved FINRA-proposed amendments to Rule 9231 to expand the pool of persons eligible to serve as panelists on a hearing panel or extended hearing panel.

The rule change establishes a category of persons eligible to serve as panelists that includes persons serving currently, or who served previously, on a committee appointed or approved by the FINRA Board. The rule change also conforms amendments to Rule 9232 that could provide FINRA with a larger pool of individuals with experience and expertise to serve as panelists.

See: 79 FR 59534.Related news: FINRA Proposes Rule Change Regarding the Composition of Hearing Panels and Extended Hearing Panels (Fed. Reg.) (August 21, 2014).