FINRA unveils arbitration task force


The Financial Industry Regulatory Authority (FINRA) in the United States has today announced the formation of a 13-member Arbitration Task Force to consider possible enhancements to its arbitration forum to improve the transparency, impartiality and efficiency of FINRA’s securities arbitration forum for all participants.

“FINRA’s mission is to protect investors and support their confidence in the capital markets,” said Richard Ketchum, FINRA Chairman and Chief Executive Officer. “Arbitration plays an essential role in establishing a fair, timely and cost-effective process for resolving disputes between investors and brokers. This task force brings together a diverse group of leading investor advocates, academics, regulators and industry representatives, and I am confident that their recommendations will help ensure FINRA’s arbitration process continues to serve the needs of the investing public.”

The task force is comprised of seven public members and six industry members.

Barbara Black – Professor and Director, Corporate Law Center, University of Cincinnati College of Law (Chair)
Philip Aidikoff – investor attorney, Aidikoff, Uhl & Bakhtiari
Joseph Borg – Director, Alabama Securities Commission
Philip Cottone – FINRA non-public arbitrator and mediator
John Cullem – FINRA public arbitrator
Sandra Grannum – industry attorney, Davidson & Grannum
Mark Maddox – investor attorney, Maddox Hargett & Caruso
Kevin Miller – General Counsel & Chief Compliance Officer, Securities America
Joseph Peiffer – investor attorney, Peiffer Rosca Abdullah Carr & Kane
Barbara Roper – Director of Investor Protection, Consumer Federation of America
Lisa Roth – CEO, Keystone Capital Corporation
Edward Turan – Managing Director, Citigroup Global Markets
Harry Walters – Managing Director, Morgan Stanley Wealth Management

Linda Fienberg, President of FINRA Dispute Resolution, said, “We have assembled a top-notch group with diverse experience that will guide their recommendations for the future of the forum.”

At the conclusion of its review next year, the task force will make recommendations to the National Arbitration and Mediation Committee (NAMC), FINRA’s Standing Board Advisory Committee.

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FINRA unveils arbitration task force

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