Following the controversial ruling by Georgia State Court on the Wells Fargo arbitration award in 2022, the Financial Industry Regulatory Authority (FINRA) is now pushing for a more transparent arbitrator selection procedure. FINRA’s new proposed rule change with the Securities and Exchange Commission is aimed at improving the prevailing practices in the arbitration and resolution forum. While the FINRA arbitration landscape remains uncertain until the approved rule changes, practitioners must keep themselves abreast of any developments to mitigate potential drawbacks.

RumbergerKirk partner Peter J. Tepley participated in the live CLE Webcast hosted by The Knowledge Group to discuss the significant updates and key issues surrounding FINRA arbitration. In addition, the speakers addressed practical tips to prepare for a FINRA arbitration case.

Key topics covered in the discussion included:

• The current status of FINRA arbitration
  • FINRA Arbitration statistics
  •  The end of COVID-19 procedures
  • Zoom is here to stay: Advantages of and practice tips for using Zoom in FINRA Arbitration
• The current status of the Georgia State Court case and the Lowenstein Sandler Report
• Proposed Rule Changes and the status of Expungement
• The potential for AI in the FINRA arbitration world