Regulatory Alert
MIAX Pearl
August 14, 2018 | 03:19 PM
MIAX PEARL: Rule Change Notice Approval for FINRA Arbitration Rules 12500, 12501, 13500 and 13501
FINRA received approval to amend FINRA Rules 12500 and 12501 of the Code of Arbitration Procedure for Customer Disputes (Customer Code) and FINRA Rules 13500 and 13501 of the Code of Arbitration Procedure for Industry Disputes (Industry Code and together, Codes), to charge a $100 per-arbitrator fee to parties who request cancellation of a prehearing conference within three business days before a scheduled prehearing conference. The approved rule change also amends FINRA Rules 12214(a) and 13214(a) of the Codes to create a $100 honorarium to pay each arbitrator scheduled to attend a prehearing conference that was cancelled within three business days of the prehearing conference.
Chapter XI of MIAX PEARL Rules incorporates by reference the rules of FINRA relating to arbitration of disputes. MIAX PEARL is required to inform its Members of rule changes to FINRA's arbitration rules published by the Securities and Exchange Commission.
Please refer to MIAX PEARL Regulatory Circular 2018-27 for further information.
Please direct any questions to the Regulatory Department at (609) 897-7309 or Regulatory@miaxglobal.com.