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Regulatory Alert, Trading Alert

MIAX Pearl Equities

April 18, 2024 | 01:29 PM

MIAX Exchange Group - Options and Equities Markets - Approval to Amend the FINRA Codes of Arbitration Procedure and Code of Mediation Procedure to Revise and Restate the Qualifications for Representatives in Arbitrations and Mediations

FINRA has received approval to amend the Code of Arbitration Procedure for Customer Disputes, the Code of Arbitration Procedure for Industry Disputes, and the Code of Mediation Procedure to revise and restate the qualifications for representatives in arbitrations and mediations in the forum administered by FINRA Dispute Resolution Services (‘‘DRS’’). The amendments disallow compensated non-attorney representatives from representing parties in the DRS forum and clarify the circumstances in which any person would be prohibited from representing a party in the DRS forum. In addition, the amendments codify that a student enrolled in a law school participating in a law school clinical program or its equivalent and practicing under the supervision of an attorney may represent investors in the DRS forum.

Please note the Approval Order has been stayed until further Commission review.

Please refer to the following Regulatory Circulars for more information on the rule change:

Regulatory inquiries should be directed to Regulatory@miaxglobal.com or (609) 897-7309.