SR-FINRA-2016-015
Proposed Rule Change to Provide that Absent Specification to the Contrary in an Award, When Arbitrators Order Opposing Parties to Pay Each Other Damages, the Monetary Awards Shall Offset.
Proposed Rule Change to Provide that Absent Specification to the Contrary in an Award, When Arbitrators Order Opposing Parties to Pay Each Other Damages, the Monetary Awards Shall Offset.
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rules 12214(e)(1) and 12904(g)(5) of the Code of Arbitration Procedure for Customer Disputes (“Customer Code”) and FINRA Rules 13214(e)(1) and 13904(g)(5) of the Code of Arbitration Procedure for Industry Disputes (“Industry Code”) (together, “Codes”) to eliminate the $400 fee for an explained decision.