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FINRA to Resume In-Person Hearings in July After delaying reopening for face-to-face arbitration and mediation because of the COVID-19 pandemic, the regulatory agency will allow such proceedings at 62 of its 69 hearing venues starting July 5.
FINRA will resume in-person proceedings for arbitration and mediation at nearly all of its hearing locations throughout the country this summer, though the agency’s Dispute Resolution Services stressed that there will be additional safeguards to accommodate COVID-19 precautions.
The move comes several weeks after one
investor advocacy group urged FINRA to resume in-person hearings, arguing that the continued delays and postponements benefited brokerage firms at the expense of claimants who were losing out on chances to recoup alleged losses.
PIABA Pushes FINRA to Resume In-Person Arbitration Hearings wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.
Remote compliance mostly meets the challenge of working from home
But a stock market reaching record highs may be masking shortfalls, and a recent survey says firms aren t supervising conferencing platforms.
March 15, 2021 2 MINS
Investment advisory firms generally have done a good job of maintaining compliance with securities laws while working remotely since the beginning of the Covid-19 pandemic, but problems may be hidden by strong markets, and firms are facing challenges in keeping records of electronic communications, experts said.
“It’s actually working pretty well,” said Sander J. Ressler, co-owner and managing director of Essential Edge Compliance Outsourcing Services.
But keep the good report card in perspective, Ressler added, because a stock market that has reached record highs despite the pandemic could be masking compliance shortfalls.
FINRA Postpones In-Person Arbitration, Mediation Until April 2 The agency has continued to push back the resumption of physical arbitration and mediation proceedings because of COVID-19, though hearings can be held via teleconferencing or Zoom.
FINRA is again postponing the resumption of in-person arbitration and mediation proceedings as the COVID-19 pandemic intensifies in many areas around the country.
The regulatory agency announced on Jan. 5 that in-person hearings are postponed through April 2. This means any proceedings in that time period will not move forward unless both parties agree to using telephone or Zoom, or if the FINRA panel orders that a hearing can proceed remotely. Last month, the agency postponed hearings through the end of February.