Securities Law Updates | New Statutes, Regulations and Rules
March 4, 2010
Proposed FINRA Rule Provides for Attorney Representation of Non-Party Witnesses in Arbitration
Amendment to Rule 12602 of the Customer Code and Rule 13602 of the Industry Code
Release No. 34-61517; File No. SR-FINRA-2010-006, 2/16/2010
The Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) has filed with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed amendment to Rule 12602 of the Code of Arbitration Procedure for Customer Disputes (“Customer Code”) and Rule 13602 of the Code of Arbitration Procedure for Industry Disputes (“Industry Code”) (together, “Codes”).
In particular, the proposal rule change seeks to provide that a non-party witness may be represented by an attorney at an arbitration hearing while the witness is testifying.
The amendment would provide that a non-party witness has the right to be…
To continue reading this article, subscribe now
It's FREE and only takes seconds
